MACEDONIAN COMPANY'S WITH POTENTIAL FOR RUSSIAN, CHINESE AND INDIAN MARKETS
Food industry, pharmacy, tourism and financial services are the sectors that can enable Macedonia's penetration at the Russian market. However, its traits and needs have to be studied first, in order to find the most appropriate, secure and quality business partners, said Paul Fisher, consultant for entry at markets in Russia, China and India, while presenting experiences to Macedonian businessmen on Wednesday.
"Before making the first step, it is necessary to study the market well and carefully select the associate company. Agreements on advanced payment should also be concluded, in order to reduce risk, with commodities delivered in stages, not all at once. In countries such as Russia, China and India it is difficult to find a solvent partner, which is why it is necessary to study one's past, operations, cooperation with other companies etc", stressed Fisher.
According to him, each company should build its own strategy for performance at the Russian market depending on the type of industry.
"There is no strategy valid for all companies. They need to develop their own, specific strategy based on prior analyses on the market's conditions and characteristics", added the consultant.
Fisher suggested Macedonia should attract Russian companies that are interested in the European market.
"Russian companies can find good locations for subsidiaries in Macedonia, through which they would control businesses within the EU, because the corporate tax rate is rather attractive and stands at 10 percent", underlined Fisher.