Arctic MAtch - MArket OppOrtunities fOrfinnish Arctic knOw-hOw in russiA

Russia’s national development strategy for the Arctic zone was published in February 2014 and covers the period up to 2020. For Finnish companies, this holds the promise of significant future business. Russian investment in developing Arctic resources over the next six years is expected to total some EUR 34 billion1.

Located just across Finland’s eastern border, this market for products and technology suitable for operations in Arctic conditions offers business opportunities to a wide range of Finnish companies. Solutions are required in the construction, mining, marine and offshore sectors, and for ensuring acceptable living and working conditions in Arctic locations.

Since oil, gas and minerals are Russia’s most important exports, there is a strong focus on developing the production and transportation of these products. In the mining sector, for example, both technologies and the know-how for repairing and maintaining heavy machinery are needed. New technology and equipment are also required for expanding strip mining and handling hazardous wastes.

www.finpro.fi/web/english-pages/opportunities-worldwidewww.finpro.fi

Aleksej Leppänen Regional Sales Manager, Russia, Baltic and CIS Countries aleksej.leppanen(a)finpro.fi+358 40 3433 361

In the transportation sector, the Northern Sea Route (NSR) offers an attractive Eurasian transport corridor. For example, shipments of oil and gas from Murmansk to Japan along the NSR take only 49% of the time required for routes that use the Suez Canal2. Development of infrastructure for the NSR means business opportunities for companies offering ship-repair services, navigation infrastructure and data centers, and equipment and technologies for executing and coordinating search and rescue operations. One of the goals of Russia’s national development strategy for the Arctic zone is to guarantee that living conditions and services for people living and working in Arctic regions are similar to those elsewhere in the country. This means business opportunities for companies offering e-services and products designed for Arctic conditions.

Development in Russia’s Arctic regions is creating opportunities for Finnish companies offering industry-specific solutions that help meet challenging Arctic conditions. Strong demand is expected for Finnish Arctic know-how combined with energy-saving technology and materials, and for solutions that minimize environmental impacts. The good reputation that Finns and Finnish products enjoy in Russia is a concrete

advantage for companies launching international operations in this nearby market.

Finpro can help you seize these opportunities for business growth. Our trade centers in Moscow, St. Petersburg and Murmansk and our network in Russia offer local expertise and connections. We make sure you meet the right people - subcontractors, main contractors offering turnkey solutions or important decision makers.

Finpro experts understand the logic of business internationalization. We continuously monitor business opportunities and developments in the Arctic sector. Our know-how will help you ensure your company gains a successful foothold in Russia’s Arctic markets.

This market opportunity is now open. Finpro’s experts can help you assess potential business for your company, and we can also assist you in locating appropriate public funding. Contact us for more information.

Source: 1) nvpress.ru/economy/6878, 2) Murmansk Shipping Company