From AAIA Capital Report
The International Trade Administration (ITA) has announced a timeline for companies wishing to participate in an automotive parts trade mission to Russia. According to a Nov. 17 notice, agencies began allowing for vetting and selection decisions for participation in the mission on a rolling basis beginning Nov. 15, until the maximum of 20 participants is selected. Companies must submit an application as soon as possible to secure a spot. The deadline for applications is Jan. 6, 2012.
A senior Commerce Department official will lead a diverse cross-section of companies selling goods and services in the automotive sector to Moscow, St. Petersburg and Samara, Russia, April 23-28, 2012. The mission will provide an opportunity for interested businesses to engage with Russia’s rapidly expanding car and truck assembly market.
The trade mission will be conducting site visits to automotive assembly plants and component manufacturers; hold market briefings by industry experts; and set up meetings with key Russian government officials and one-on-one meetings with potential business partners. Targeted automotive sectors include:
• Components for vehicle manufacture
• Replacement parts
• Aftermarket products
• Repair equipment
• Capital equipment used for vehicle manufacture
• Testing equipment
• Software and engineering services
Russia has more than 140 million consumers, a growing middle class and remains one of the most promising markets for U.S. exporters. Russian customers purchased 1.9 million cars in 2010 and importers have been forecasting growth of approximately 20 percent on 2011. This trend has led most experts to predict that Russia will be the largest automotive market in Europe in the next few years.
Ford opened its first plant in Russia in 2002 and General Motors is in a joint venture with the Russian auto giant AvtoVAZ. In addition, Nissan, Toyota and Hyundai opened new plants between 2007 and 2009. The U.S. Commercial Service strongly believes in the opportunities for growth and expansion in Russia for U.S. manufacturers of automotive parts and components. It is understood that Russians are prepared to pay for quality vehicles and that the Russian automotive manufacturers, along with the Russian government, are seeking technology and business partnerships to best serve this growing demand.
For full details of the mission, including the application process and costs, click here.
AAIA members interested in participating in the trade mission should e-mail Sheryl Wilkerson at [email protected].
