Welsh companies keen to make further in roads into the potentially massive Russian market are heading out on a Welsh Government trade mission to Moscow next week.
The visit (March 2-7) builds on a mission led by Economy Minister Edwina Hart last year to explore trade links with Russia and highlighted the potential of the Russian market for Wales.
Participating companies working across a range of sectors are: Aber Instruments from Aberystwyth, Licentia Group and myPinPad from Cardiff Bay, Weartech International from Port Talbot and Teddington Engineered Solutions, Llanelli.
Russia is a new market for Teddington and the Welsh Government is helping them research business opportunities across their target sectors and have arranged meetings with potential partners.
The other companies already have trade links with Russia and have arranged their own itineraries, setting up meetings with partners and potential partners they are currently in discussions with
Companies will have the opportunity to meet the local UK Trade and Invest team at the Embassy and the Welsh Government is hosting a networking reception at the Ambassador’s residence, targeting companies that may be interested in doing business with the Welsh delegates.
Economy Minister Edwina Hart said:” During my visit last year when I travelled with representatives from five Wales based companies I attended a number of high level meetings and held discussions with the British Ambassador, his key staff and representatives from trade bodies, both British and Russian.
“It highlighted the potential of the Russian market for Wales and I am pleased the Welsh Government is supporting this mission to help businesses either expand into Russia or explore the potential market.”
Aber Instruments is the global leader in on-line biomass measurement and has developed highly sophisticated monitors for the pharmaceutical and brewing industries that are used worldwide by blue chip companies.
The Licentia Group is a cyber security company specialising in the development of novel platforms to authenticate users that are authorised to access secure data. Potential markets include healthcare for controlled access to sensitive patient records and for payment processing.
The Group is already exploring the potential for licensing and partnering in Russia and the trade mission will facilitate face to face meetings to progress opportunities.
myPinPad specialises in ecommerce and mobile commerce software payments and solutions to enable secure transactions on unsecured electronic devices such as mobile phones, tablets and computers
The company has identified a number of Russian partners keen to explore licensing their software.
Teddington Engineered Solutions of Llanelli is a world leader in their field of designing and manufacturing bellows expansion joints that can withstand extremes of temperatures.
Russia is a potentially new market for Teddington who is seeking local agents and distributors and wish to meet and introduce their products and services to oil, gas and power companies.
Weartech International of Port Talbot make wear-resistant alloys that extend the life of industrial equipment that is subjected to heat, abrasion, impact and corrosion. Its products are used in such diverse environments as steel processing, valves for oil and gas, sawmills and power generation equipment. The company wants to increase market penetration and will be signing a distributor contract with their long-term partner.