Franjo Gregurić will lead Croatia to the Russian market

A significant increase in interest from Croatian entrepreneurs in the Russian market has prompted the Croatian Chamber of Economy (HGK) to establish a Business Council for Economic Cooperation with the Russian Federation, with around a hundred entrepreneurs present at the meeting in HGK.

In addition to the council, the intensification of activities aimed at cooperation with Russia and increasing Croatian exports will also be supported by the HGK representation in Moscow, which is set to be opened by Croatian Prime Minister Jadranka Kosor on June 19. A large portion of Croatian companies has neglected the Russian market, and therefore much more needs to be done to ensure a quality presence in this important market, said former Croatian Prime Minister and a good connoisseur of Russian-Croatian economic relations Franjo Gregurić, who will also chair the Business Council.

Gregurić and HGK President Nadan Vidošević agree that much more can certainly be achieved in the Russian market, but that it requires a lot of work, effort, and perseverance. In discussions with Russian partners, we have gained the impression that there is goodwill and a positive attitude towards the Croatian presence in that market, Vidošević emphasized. Gregurić cites potential areas of cooperation such as construction and the construction materials industry, furniture industry, food, pharmaceutical, leather industry, equipment industry, etc.

The Business Council, which will have voluntary and free membership, can be joined by companies and individuals who operate or have an interest in doing business in the Russian market, and it will serve as a place for information exchange, defining proposals for improving economic cooperation, etc. The HGK representation in Moscow will be led by Ivica Budanec, and it will be a place where entrepreneurs can obtain concrete data and possible contacts, which will assist them regarding public tenders, often complicated regulations, and similar matters.

According to the presented data, Croatia primarily imports energy resources, oil and gas, coal, copper wire, and similar products from Russia, while it mainly exports pharmaceutical and food products, and recently also cosmetics, furniture, textiles, and similar items. In 2008, the total trade exchange between Croatia and Russia amounted to 3.4 billion US dollars, of which Croatian exports were 186.2 million dollars, and imports were 3.2 billion, while in 2009, the total trade exchange decreased to 2.16 billion dollars, of which imports from Russia were around two billion, and Croatian exports were 154 million dollars. Croatian companies invested 48.9 million euros in Russia from 1993 to 2009, while direct investments from Russian entrepreneurs in Croatia were around 126 million euros.  (H)