ECONOMY OF RUSSIA
EMBASSY OF GREECE - MOSCOW
OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS
MAP OF RUSSIA
GENERAL CHARACTERICTICS
Population 142,9 million
Area: 17.075.400 sq km.
11 Time Zones
9th Largest economy in the world
GDP (% change 1999-2012)
3.4
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Russian Bureau of Statistics/IMF
GDP & GDP per capita (2003-2012)
YearGDP (in current prices) GDP per capita
(billion rbl.) (US$/YEAR)
2004 17,027.20 4,119.6
2005 21,609.76 5,348.0
2006 26,917.20 6,961.5
2007 33,247.50 9,152.8
2008 41,276.80 11,704.3
2009 38,807.2 8,616.5
2010 46,321.8 10,407.9
2011 55,798.7 12,993.3
2012 62,356.9 (≈ 1.99 trillion US$) 13,764.776
Russian Bureau of Statistics
INFLATION 1998-2012
84.4%
36.5%
20.2%
18.6%
15.1%
12.0%11.7%
10.9%9.0%
11.9% 13.3%
8.8% 8.8% 6.1% 6.6%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Russian Bureau of Statistics
Unemployment rate (2000-2012)
5.7
6.6
7.5
8.4
6.3
6.1
7.27.2
7.8
8.27.9
9.0
10.6
0
2
4
6
8
10
12
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
REFINANCING INTEREST RATE (1999-2012)
8%
0%
10%
20%
30%
40%
50%
60%
70%
Russian Central Bank – 1.1.2012
EXTERNAL DEBT
220.5 billion US$
324.7 billion US$
0
100
200
300
400
500
600
2005 2006 2007 2008 2009 2010 2011
Public Sector
Private Sector
External Debt ≈ 29% ΑΕΠ
Currency Composition of External Debt of the Russian Federation
Rbl24%
US$61%
Other currencies3%
Euro12%
RESERVE FUND & NATIONAL WEALTH FUND
0,00
1000,00
2000,00
3000,00
4000,00
5000,00
6000,00
7000,00
8000,00
National Wealth Fund: 2.7 trillion rbl (88.6 billion US$)
RESERVE FUND: 1.8 trillion rbl (62.1 billion US$)
INTERNATIONAL RESERVES
537.6 billion US$
0
100000
200000
300000
400000
500000
600000
MONETARY COMPOSITION OF INTERNATIONAL RESERVES
$USA47%
$CAN1%
YEN2%
EURO41%
POUNDS9%
Corruption Perceptions Index – Transparency International (1)
1 Denmark 22 France 45 Korea (South) 66 Romania
1 Finland 22 Saint Lucia 46 Brunei 66 Saudi Arabia
1 New Zealand 25 Austria 46 Hungary 69 Brazil
4 Sweden 25 Ireland 48 Costa Rica 69 Macedonia
5 Singapore 27 Qatar 48 Lithuania 69 South Africa
6 Switzerland 27 United Arab Emirates 50 Rwanda 72 Bosnia and Herzegovina
7 Australia 29 Cyprus 51 Georgia 72 Italy
7 Norway 30 Botswana 51 Seychelles 72 Sao Tome and Principe
9 Canada 30 Spain 53 Bahrain 75 Bulgaria
9 Netherlands 32 Estonia 54 Czech Republic 75 Liberia
11 Iceland 33 Bhutan 54 Latvia 75 Montenegro
12 Luxembourg 33 Portugal 54 Malaysia 75 Tunisia
13 Germany 33 Puerto Rico 54 Turkey 79 Sri Lanka
14 Hong Kong 36 Saint Vincent and the Grenadines 58 Cuba 80 China
15 Barbados 37 Slovenia 58 Jordan 80 Serbia
16 Belgium 37 Taiwan 58 Namibia 80 Trinidad and Tobago
17 Japan 39 Cape Verde 61 Oman 83 Burkina Faso
17 United Kingdom 39 Israel 62 Croatia 83 El Salvador
19 United States 41 Dominica 62 Slovakia 83 Jamaica
20 Chile 41 Poland 64 Ghana 83 Panama
20 Uruguay 43 Malta 64 Lesotho 83 Peru
22 Bahamas 43 Mauritius 66 Kuwait 88 Malawi
Corruption Perceptions Index – Transparency International (2)
88 Morocco 105 Mexico 133 Comoros 154 Kyrgyzstan
88 Suriname 105 Philippines 133 Guyana 156 Yemen
88 Swaziland 113 Albania 133 Honduras 157 Angola
88 Thailand 113 Ethiopia 133 Iran 157 Cambodia
88 Zambia 113 Guatemala 133 Kazakhstan 157 Tajikistan
94 Benin 113 Niger 133 Russia 160 Democratic Republic of the Congo
94 Colombia 113 Timor-Leste 139 Azerbaijan 160 Laos
94 Djibouti 118 Dominican Republic 139 Kenya 160 Libya
94 Greece 118 Ecuador 139 Nepal 163 Equatorial Guinea
94 India 118 Egypt 139 Nigeria 163 Zimbabwe
94 Moldova 118 Indonesia 139 Pakistan 165 Burundi
94 Mongolia 118 Madagascar 144 Bangladesh 165 Chad
94 Senegal 123 Belarus 144 Cameroon 165 Haiti
102 Argentina 123 Mauritania 144 Central African Republic 165 Venezuela
102 Gabon 123 Mozambique 144 Congo Republic 169 Iraq
102 Tanzania 123 Sierra Leone 144 Syria 170 Turkmenistan
105 Algeria 123 Vietnam 144 Ukraine 170 Uzbekistan
105 Armenia 128 Lebanon 150 Eritrea 172 Myanmar
105 Bolivia 128 Togo 150 Guinea-Bissau 173 Sudan
105 Gambia 130 Côte d´Ivoire 150 Papua New Guinea 174 Afghanistan
105 Kosovo 130 Nicaragua 150 Paraguay 174 Korea (North)
105 Mali 130 Uganda 154 Guinea 174 Somalia
CREDIT RATING(01- 03 - 2013)
Moody’s: Baa1 (STA)
Fitch : BBB (STA)
S & P : BBB (STA)
CURRENT ACCOUNT BALANCE 2003-2012
-300000
-250000
-200000
-150000
-100000
-50000
0
50000
100000
150000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
35410
59512
8460294686
77768
103530
48605
71080
98834
81300 (est.)
-38310 -40655
-64314
-96075
-140800
-206610
-142104
-182929
-242978
-265700 (est.)
tho
usan
d U
S$
Current Account Balance
Current Account Balance without energy products
CAPITAL INFLOW / OUTFLOW 1994-2012
Central Bank of Russia
-23.80 -18.30-21.70 -20.80 -24.80
-14.90-8.10 -1.90 -8.90
-0.10
41.40
81.70
-133.70
-56.20 -34.40
-80.60-56.8
-150
-100
-50
0
50
100
billio
n U
S$
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
BANKS
PRIVATE SECTOR
CAPITAL BALANCE
Russian FDI abroad & FDI in Russia (million US$)
UNCTAD
0
50000
100000
150000
200000
250000
300000
350000
400000
450000
500000
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Outword Investment Stocks Inward Investment Stocks
Russian FDI abroad2011: 362.1 billion US$ ≈ 1.7% of total FDI
16th largest investor abroad
FDI in Russia2011: 457.4 billion US$ ≈ 2.2%of total FDI (in Russia)
14th largest receiver of FDI in the World
Russian FDI abroad & FDI in Russia 2011 (million US$)(20 MOST IMPORTANT COUNTRIES OF ORIGIN/TARGET OF FDI)
α/α COUNTRY OF ORIGIN FDI in Russia % of Total FDI α/α COUNTRY – TARGET of Russian FDI Russian FID abroad % of Total outward FDI
1 CYPRUS 179217 36,33% 1 CYPRUS 153934 36,33%
2 BERMUDAS 52593 10,66% 2 NETHERLANDS 39668 10,66%
3 VIRGIN ISLANDS 50966 10,33% 3 VIRGIN ISLANDS 38762 10,33%
4 NETHERLANDS 40206 8,15% 4 BERMUDAS 13758 8,15%
5 BAHAMAS 24579 4,98% 5 LUXEMBOURG 12004 4,98%
6 GERMANY 23124 4,69% 6 UNITED KINGDOM 10278 4,69%
7 LUXEMBOURG 19659 3,98% 7 U.S.A. 9825 3,98%
8 SWEDEN 18095 3,67% 8 SWITSERLAND 9277 3,67%
9 FRANCE 11793 2,39% 9 GERMANY 6721 2,39%
10 UNITED KINGDOM 7795 1,58% 10 BELORUSSIA 5702 1,58%
11 AUSTRIA 6653 1,35% 11 GIBRALTAR 5653 1,35%
12 FINLAND 6634 1,34% 12 AUSTRIA 5456 1,34%
13 SWITSERLAND 6531 1,32% 13 BAHAMAS 4996 1,32%
14 GIBRALTAR 5756 1,17% 14 UKRAIN 4333 1,17%
15 U.S.A. 5380 1,09% 15 SPAIN 3553 1,09%
16 NETHERLANDS 3765 0,76% 16 CANADAS 3474 0,76%
17 BELGIUM 2849 0,58% 17 BELIZ 3328 0,58%
18 JAPAN 2006 0,41% 18 HUNGARY 2230 0,41%
19 CHINA 1987 0,40% 19 KAZACHSTAN 2036 0,40%
20 S.KOREA 1950 0,40% 20 TURKY 1966 0,40%
Russian Central Bank
RUSSIAN FOREIGN TRADE (2000-2012)
0
50000
100000
150000
200000
250000
300000
350000
20032004
20052006
20072008
20092010
20112012
IMPORTS: 335.4 billion US$
EXPORT OF ENERGY PRODUCTS: 347.0 billion US$
EXPORTS OF OTHER PRODUCTS: 183.7 billion US$
TRADE BALANCE: 195.4 billion US$TRADE BALANCE WITHOUT ENERY PRODUCTS:
-151.7 billion US$
COMPOSITION OF RUSSIAN EXPORTS (2011)
Metalls and Precious Stones
11%
Mashines, equipment and cars
5%
Other products1%
Food & Agricultural Products
2%
Minerals73%
Textiles & Shoes0%
Wood & Paper products2%
Skin and Fur products0%
Chemical Products & ruber6%
COMPOSITION OF RUSSIAN IMPORTS (2011)
Wood & Paperproducts2%
Textiles and Shoes6%
Metalls and Precious Stones
7%
Skins and Fur products1%
Chemical Products & rubber
15%
Minerals2%
Food & Agricultural Products
14%
Other products4%
Mashines, equipment and cars
49%
MOST IMPORTANT TRADE PARTNERS (million US$)COUNTRIES EXPO
RTSIMPORTS EXPORTS % of
TotalΕισαγωγές % of
TotalTOTAL TRADE % of Total TRADE BALANCE
2010 2011 2010 2011 2010 2011
TOTAL 336,959 197,439 503,133 100,0% 298,454 100,0% 534,398 801,587 100.0% 139,520 204,679
CHINA 20,325 39,036 35,241 7,0% 48,264 16,2% 59,361 83,505 10.4% -18,712 -13,023
GERMANY 25,103 26,714 34,173 6,8% 37,676 12,6% 51,817 71,849 9.0% -1,610 -3,503
NETHERLANDS 53,963 4,442 62,567 12,4% 5,924 2,0% 58,405 68,491 8.5% 49,520 56,643
ITALY 27,404 10,044 32,582 6,5% 13,401 4,5% 37,448 45,983 5.7% 17,360 19,181
TURKEY 20,367 4,879 25,429 5,1% 6,374 2,1% 25,246 31,803 4.0% 15,488 19,055
U.S.A. 12,419 11,135 16,604 3,3% 14,601 4,9% 23,555 31,205 3.9% 1,284 2,003
JAPAN 12,835 10,301 14,701 2,9% 15,004 5,0% 23,135 29,705 3.7% 2,534 -303
FRANCE 12,437 10,118 14,857 3,0% 13,276 4,4% 22,555 28,133 3.5% 2,320 1,581
POLAND 14,936 5,825 21,369 4,2% 6,651 2,2% 20,761 28,020 3.5% 9,111 14,718
SOUTH KOREA 10,435 7,273 13,356 2,7% 11,593 3,9% 17,708 24,949 3.1% 3,162 1,763
U.K. 11,312 4,575 13,997 2,8% 7,180 2,4% 15,887 21,177 2.6% 6,737 6,817
FINLAND 12,170 4,585 13,190 2,6% 5,671 1,9% 16,754 18,861 2.4% 7,585 7,519
26
GREEK – RUSSIA BILATERAL TRADE (2006-2012)
3,577,081,252
3,130,302,437
4,454,048,615
2,959,729,909
4,794,233,309
20114,051,909,063
(369,536,274 without energy products)
441,143,281 356,505,836 418,876,698234,543,887 321,751,885
386,635,766459,457,633
0
1,000,000,000
2,000,000,000
3,000,000,000
4,000,000,000
5,000,000,000
6,000,000,000
2006 2007 2008 2009 2010 2011 2012
2012307,630,751
(without energy products)
IMPORTS
EXPORTS
ΕΛΣΤΑΤ
GREEK EXPORTS TO RUSSIA 2010-’11 (in euros)
α/α CN PRODUCT 2011 2010 Change Share of Total
1 43.03 Furs 101,656,186 95,596,994 6.34% 25,8%
2 85.17 Telephone sets etc 33,959,518 14,909,478 127.77% 8,6%
3 08.10 Strawberries & kiwis 33,656,175 18,002,663 86.95% 8,5%
4 08.09 Peaches and cherries 31,559,674 25,400,707 24.25% 8,0%
5 34.05 Polishes and creams for various surfaces 14,084,770 10,297,392 36.78% 3,6%
6 24.01 Tobacco 10,429,506 15,468,726 -32.58% 2,6%
7 27.10 Petroleum Oils 9,194,802 5,887,957 56.16% 2,3%
8 85.42 Electric Integrated Circuits 8,591,713 2,715,918 216.35% 2,2%
9 20.07 Jam, fruit jellies etc 8,574,396 11,559,126 -25.82% 2,2%
10 74.11 Copper tubes 8,348,204 1,132,743 636.99% 2,1%
11 03.02 Fish fresh 8,100,128 10,388,486 -22.03% 2,1%
12 56.01 Wadding of textile materials 6,845,824 5,586,458 22.54% 1,7%
13 84.28 Lifts 6,805,339 5,084,018 33.86% 1,7%
14 76.06 Aluminum plates 6,340,068 4,671,609 35.71% 1,6%
15 84.18 Refrigerators 6,301,622 3,382,300 86.31% 1,6%
16 15.09 Olive oil 6,027,527 4,810,484 25.30% 1,5%
17 20.08 Preserved fruits 4,154,064 3,650,940 13.78% 1,1%
18 26.08 Zinc ores & concentrates 4,132,585 0 - 1,0%
19 08.05 citrus 4,050,359 859,570 371.21% 1,0%
20 20.05 Olives 3,744,001 3,626,132 3.25% 0,9%
21 76.07 Aluminum foil 3,024,313 4,383,335 -31.00% 0,8%
22 39.21 Other Plastic sheets, plates, film, foil etc 3,016,631 5,560,983 -45.75% 0,8%
23 39.20 Plastic sheets, plates, film, foil etc 2,633,243 129,883 1927.40% 0,7%
24 08.08 Apples 2,199,092 2,448,314 -10.18% 0,6%
25 68.02 Marble 2,040,213 655,742 211.13% 0,5%
TOTAL 394,313,206 321,792,208 22,54% 100%
GREEK IMPORTS FROM RUSSIA
(in euros)
α/α CN PRODUCT 2011 2010 CHANGE SHARE of TOTAL
1 27.09 Crude Oil 1.720.644.882 2.807.794.791 -38.72% 42,47%
2 27.10 Petroleum oils 1.136.363.017 985.564.911 15.30% 28,05%
3 27.11 Natural Gas 817.988.511 579.247.570 41.22% 20,19%
4 76.01 Inwrought Aluminum 181.907.155 163.511.047 11.25% 4,49%
5 72.08 Flat rolled products of iron or non alloy steel 43.998.856 28.766.770 52.95% 1,09%
6 10.01 Wheat 33.394.137 9.790.220 241.10% 0,82%
7 72.04 scrap 12.702.419 24.669.487 -48.51% 0,31%
8 10.05 Corn 11.848.414 0 - 0,29%
9 43.01 Furs 10.511.959 4.859.133 116.33% 0,26%
10 40.02 Rubber 7.780.990 5.342.823 45.63% 0,19%
11 31.05 Mineral fertilizers with phosphorus 7.143.737 3.817.544 87.13% 0,18%
12 31.04 Mineral fertilizers potassic 6.509.053 6.544.393 -0.54% 0,16%
13 28.03 Carbon 5.906.508 4.120.023 43.36% 0,15%
14 76.02 Aluminum scrap 4.620.509 3.117.334 48.22% 0,11%
15 48.01 Paper 4.156.169 13.740.404 -69.75% 0,10%
16 15.12 Sunflower oil 4.096.349 12.191.763 -66.40% 0,10%
17 74.08 Copper Wire 3.563.920 9.122.953 -60.93% 0,09%
18 44.07 Wood 3.374.788 6.144.015 -45.07% 0,08%
19 44.12 Plywood 3.219.786 4.081.695 -21.12% 0,08%
20 48.04 Uncoated craft paper and paperboard 3.009.609 2.862.070 5.15% 0,07%
21 10.03 Barley 2.832.022 327.319 765.22% 0,07%
22 47.03 Chemical Wood pulp 2.216.353 1.264.577 75.26% 0,05%
23 39.07 Polyacetals 2.142.357 0 - 0,05%
24 23.06 Oilcake 1.930.574 2.700.358 -28.51% 0,05%
25 44.03 Rough wood 1.620.465 844.278 91.94% 0,04%
TOTAL 4,051,909,063 4,794,233,309 -15.48% 100.00%
TOURISMΑ/Α COUNTRY 2011 2012 CHANGE SHARE Α/
Α COUNTRY 2011 2012 CHANGE SHARE
1FINLAND 4,416,283 5,118,780
16 10.71% 20AUSTRIA 289,236 320,537
11 0.67%
2TURKEY 3,260,138 3,334,727
2 6.97% 21U.K. 289,675 295,708
2 0.62%
3CHINA 2,432,615 2,312,199
-5 4.84% 22U.S.A. 242,098 276,354
14 0.58%
4EGYPT 1,659,611 2,246,440
35 4.70% 23SWITZERLAND 231,714 265,747
15 0.56%
5ESTONIA 1,678,374 1,825,923
9 3.82% 24TUNIS 153,694 226,193
47 0.47%
6GERMANY 1,325,452 1,385,363
5 2.90% 25S.KOREA 161,893 187,536
16 0.39%
7TAILAND 917,848 1,112,253
21 2.33% 26NETHERLANDS 161,712 162,484
0,5 0.34%
8POLAND 684,428 1,014,622
48 2.12% 27NORWAY 126,435 154,272
22 0.32%
9 SPAIN 785,866 990,637 26 2.07% 28 CROATIA 135,144 134,518 -0,5 0.28%
10LITHOUANIA 755,926 910,511
20 1.90% 29JAPAN 67,563 79,099
17 0.17%
11 GREECE 710,304 834,355 17 1.75% 30 KUBA 67,812 74,972 11 0.16%
12 ITALIA 734,210 794,323 8 1.66% 31 SWEDEN 83,673 64,055 -23 0.13%
13 U.A.E. 457,736 649,428 42 1.36% 32 HUNGARY 62,309 51,686 -17 0.11%
14 CZECH REP. 462,092 505,163 9 1.06% 33 JORDAN 25,067 28,520 14 0.06%
15 CYPRUS 380,231 477,106 25 1.00% 34 MALTA 22,618 24,617 9 0.05%
16 BULGARIA 405,689 469,122 16 0.98% 35 CANADA 11,311 14,776 31 0.03%
17 FRANCE 410,574 457,083 11 0.96% 36 SLOVAKIA 5,971 12,547 110 0.03%
18 LATVIA 325,839 371,351 14 0.78% 37 ΡΟΥΜΑΝΙΑ 6,165 7,486 21 0.02%
19ISRAEL 335,933 339,029
1 0.71% TOTAL 43,725,777 47,812,920
9 100.00%
GREEK INVESTMENTS IN RUSSIA
Greek capital invested in Russia ≈ € 2.5 billion
Food & beverages, trade, construction & building materials, distribution, services
Greek Investments in Russia
Russian Company Name Greek Company Name ΔΡΑΣΤΗΡΙΟΤΗΤΑ
COCA COLA-HBC 3E HELLENICBOTTLING Beverages
MICHANIKI RUSSIA MICHANIKI CONSTRUCTION
CHIPITA CHIPITA Food
TOGAS TOGAS Textiles
LCC FRIGOGLASS 3E H.B.C. Refrigerators
ΠΛΑΣΤΙΚΑ ΚΡΗΤΗΣ ΠΛΑΣΤΙΚΑ ΚΡΗΤΗΣ Plastics
Media Strom Media Strom Mattresses
ALUMIL S.A. ALUMIL YUG Aluminum products
KLEEMANN KLEEMANN Lifts
TURN OVER OF RETAIL SALES
Source: Federal State Statistics Service (Rosstat)
(DISTRIBUTION CHANNELS)
IMPORTERS
WHOLESALERS
DISTRIBUTORS
RETAILERS
FOOD MARKETS IN RUSSIA
2003 2004 2005 2006 2007 2008 2009 2010
NUMBER OF SALES POINTS
Hypermarkets 21 27 38 45 51 57 64 71
Supermarkets 1060 1305 1523 1822 2110 2432 2804 3223
Mini supermarkets 135 225 327 430 520 640 766
Discount markets 1078 1490 2070 2921 3784 4633 5385 5925
Total 2159 2957 3855 5114 6374 7641 8893 9985
FOOD CHAIN STORES RUSSIA
Retailer Name Ownership Sales ($U.S. million)
Number of Outlets
Pyaterochka X5 Retail Group NV, local 17,303 2,525
Magnit Magnit OAO, local 13,092 5,112
Auchan Auchan Group SA, French 4,866 37
Metro Cash& Carry Metro AG, German 4,586 65
Perekriostok X5 Retail Group NV, local 4,294 330
O’Key Dorinda Holding SA, Luxemburg, local, Estonian
3,372 75
Lenta Lenta OOO, 60 percent local, 40 percent U.S.
2,740 46
Dixie Dixie Group OAO, local 2,326 947
Karusel X5 Retail Group NV, local 2,180 77
Sedmoi Kontinent Sedmoi Kontinent, local 1,186 138
Sources: Euromonitor International, company reports and websites
MARKET SHARE
Source: Euromonitor from trade sources/national statistics
ADVANTAGES OF RUSSIAN MARKET
LARGE MARKET
NEW MARKET
GREAT PROPENSITY TO CONSUME
GREATE INTEREST FOR NEW PRODUCTS, LIFESTYLES,
PERCEPTIONS ETC.
OPPORTUNITIES FOR GREEK EXPORT BUSINESS
FOOD (fruits, fish, olive oil)
Construction materials
Furs
Pharmaceuticals - Cosmetics
ATTRACTING INVESTMENTS IN GREEK MARKET
TOURISM
(tourist real estate, marines, cruises)
Energy
(natural gas - electricity – renewable energy)
Banking Sector
DIFFICULTIES IN ACCESSING THE RUSSIAN MARKET
LANGUAGE
BUREAUCRACY – INTRASPARENCY - CORRUPTION
TECHNICAL AND PHYTOSANITARY BARRIERS TO IMPORTS
TRASPORT AND LOGISTIC PROBLEMS
LOW PROTECTION OF INTELLECTUAL PROPERTY
BARRIERS IN FOREIGN WORKFORCE
AMBIGUITY IN LAND OWNERSHIP RIGHTS
CONDITIONS FOR SUCCESS IN RUSSIAN MARKET DETAILED MARKET RESEARCH
COMMITMENT OF CAPITAL AND TIME
FIND RELIABLE RUSSIAN SPEAKING PARTNER
DEVELOPMENT OF PERSONAL RELATIONS VIA REGULAR VISITS TO RUSSIA
LONG TERM PLANS
EMBASSY OF GREEECE - MOSCOW
OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS
Address: Spiridonovka Ul.14, 121069 Moscow Tel.: +7 - 495 - 5393860Fax: +7 - 495 - 5393864
e-mail: [email protected]: www.agora.mfa.gr/russia
Elias Thanasas :Minister Counselor Eco & Comm. Affairs)Spyridon Liondos :Counselor “ “Emm. Soultanopoulos:First Secretary “ “Theodora Giannitsi :Research Expert
THANK YOU FOR YOUR ATTENTION!