Russia is located in northern Eurasia with a total area of 17 million square kilometers and a population of 143 million people. It has a varied climate from tropical to polar. The economy relies heavily on oil and natural gas exports and has undergone reforms since the 1990s to transition to a market economy. Key cities include Moscow, St. Petersburg, and Vladivostok. Business etiquette is formal and emphasizes the development of long-term trusting relationships through patience and sincerity. Meetings require advanced scheduling and agendas are subject to change.

1. Russia
Parth Majmudar
Mumbai
Geography
Economic Reforms
Business Etiquettes

3. •
Located in Northern Eurasia (Northern Hemisphere)
•
Area- total: 17,075,200 sq km
land: 16,995,800 sq km
water: 79,400 sq km
Population : 143 million (as of 2012)
•
Climate data for Russia (records)
Month
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Year
Record
high °C
(°F)
22.2
(72)
23.8
(74.8)
30.3
(86.5)
34.0
(93.2)
37.7
(99.9)
43.2
(109.8)
45.4
(113.7)
43.5
(110.3)
41.5
(106.7)
33.7
(92.7)
29.1
(84.4)
25.0
(77)
45.4
(113.7)
Record
low °C
(°F)
−71.2
(−96.2)
−64.4
(−83.9)
−60.6
(−77.1)
−46.4
(−51.5)
−28.9
(−20)
−9.7
(14.5)
−9.3
(15.3)
−17.1
(1.2)
−25.3
(−13.5)
−47.6
(−53.7)
−58.5
(−73.3)
−62.8
(−81)
−71.2
(−96.2)
Source: Pogoda.ru.net[125]
en.wikipedia.org

4. Topography
• Most of Russia consists of plains, steppe to the south and forested to
the north with tundra along the northern coast
• Mountain ranges are found along the southern borders (Caucasus,
Altai, Verkhoyansk, Kamchatka Peninsula)
• Extensive coastline of 37000 kms
• Thousands of rivers ( Volga, Ob, Amur, Lena) and fresh water lake
(Lake Baikal)
• Second only to Brazil in volume of water renewable resources
• World’s largest forest reserves

5. Natural resources:
oil, natural gas, coal, and many strategic minerals, timber
Natural hazards:
•
•
•
•
Permafrost - Siberia
Volcanic activity - Kuril Islands
Volcanoes and earthquakes - Kamchatka Peninsula
Spring floods - Siberia and parts of European Russia
Current issues:
•
•
•
•
Air pollution
Deforestation
Soil erosion
Groundwater contamination from toxic waste
en.wikipedia.org

6. Modes of Transport
Airways: 1,216 airports
Railways: 87,157 km
Roadways: 982,000 km
Waterways: 102,000 km ( Coastline of 37000 kms)
Ports & Terminals:
• Kaliningrad
• Kavkaz
• Nakhodka
• Novorossiysk
• Primorsk
• Saint Petersburg
• Vostochnyy
Source- www.cia.gov

7. Important Cities
• Moscow
• Labinsk
• Pskov
• St. Petersburg
• Vladivostok
• Irkutsk

10. Economic Reforms
Started in 1990
Goals:
•
Macroeconomic stability
• Restructure the country's economic framework
• Open the market for the foreign investors
Reforms Undertaken:
• Minimized Government's expenditure
• Planned government's budget deficit
• Improved the tax system(Profit tax)
• Decrease inflation
• Land reform and judicial reform
• Credit Expansion
•
Reduction of subsidy and increasing the revenue
Source- http://finance.mapsofworld.com/economy-reform/russia/
•
24 SEZs

12. Economy
GDP : $2.229 trillion (2012est.) (8th largest by
nominal GDP)
GDP - real growth rate: 3.8% (2010 est.)
GDP - per capita (PPP): $15,900 (2010 est.)
Unemployment rate: 7.6% (2010 est.)
GDP - composition by sector:
Agriculture: 4.2%
Industry: 33.8%
Services: 62% (2010 est.)
Source- http://finance.mapsofworld.com/economy-reform/russia

13. Economy
Industrial production growth rate: 8.3% (2012 est.)
Exports: $376.7 billion (2012 est.)
Exports - commodities:
petroleum and petroleum products, natural gas, metals, wood and wood
products, chemicals
Imports: $237.3 billion (2012 est.)
Imports - commodities:
machinery, vehicles, pharmaceutical products, plastic, semi-finished metal
products, meat, fruits and nuts, optical and medical instruments, iron, steel
Source – www.cia.gov

14. Economy
Oil – production : 10.12 million bbl/day (2010 est.)
Natural gas - production: 583.6 billion cu m (2009)
Exchange rates:
Russian rubles (RUB) per US dollar – 33.35 (2010)
Source – www.cia.gov

15. Russian Economy Comparison with India

16. Cultural Dimensions
Source : The Hofstede Centre

17. Appearance
• Formal and conservative
• Men - business suits
• Women - should wear subdued coloured business suits with
skirts that cover the knees
• Shoes should be polished
• Men often do not take off their jackets in negotiations
• Do not stand with your hands in your pockets. This is
considered rude
Source - www.cyborlink.com/besite/russia.htm

18. Relationships and Communication
• Russians are transactional
• It is still a good idea to develop a network of people who you know
and trust
• Patience is essential
• Sincerity is crucial as it is required to build trust, and trust is needed
to build a relationship
• Most Russians do not trust people who are 'all business'
Source - www.cyborlink.com/besite/russia.htm
www.kwintessential.co.uk

19. Business Meeting Etiquette
• Appointments are necessary
• Punctually for meetings
• Schedules are constantly changing
• Meetings can be cancelled on short notice
• Meetings are frequently interrupted.
• At the end of the meeting, expect to sign a ‘protokol', which is a
summary of what was discussed.
Source - www.cyborlink.com/besite/russia.htm
www.kwintessential.co.uk

20. Working Practice and Negotiations
• Do not like being rushed
• Hierarchy is important
• Compromise as weakness
• Negotiating until you offer concessions
• Lose their temper
• Nothing is final until the contract is signed. Even then, Russians will
modify a contract to suit their purposes
Source - www.cyborlink.com/besite/russia.htm
www.kwintessential.co.uk

21. Business Cards
• Exchanged after the initial introductions
• Have one side of your business card translated into Russian using
Cyrillic text
• Include advanced university degrees on your business card.
• Hand your business card so the Russian side is readable to the
recipient.
Source - www.cyborlink.com/besite/russia.htm
www.kwintessential.co.uk

22. Thank You