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Russian outdoor sector seeks foreign investments
21
Jul '15
The Russian outdoor apparel and garment industry is trying for foreign investment in the sector. Representatives of the official Russian delegation at OutDoor, Europe’s leading trade fair for the outdoor sector in Friedrichshafen, Germany and leaders of the European Outdoor Group (EOG) discussed new opportunities for mutually beneficial cooperation, according to a Russian media report.

Viktor Evtukhov, Russian deputy minister of industry and trade, who met Mark Held, EOG general secretary, pointed out that Russia had a very strong industrial base, high-tech equipment, and highly qualified specialists, and the country was interested in securing of orders from major brands. Evtukhov said this would also be beneficial for the companies themselves because the ruble’s depreciation means the cost of products made in Russia has dropped considerably.

The report said that Russia’s participation at ‘Outdoor 2015’ is an important step towards integration of the country’s light industry market into the world economy. The Russian economy is interested in foreign investments in the domestic outdoor business. Russia was called a growth leader a year ago at ‘Outdoor 2014’.

The Russian delegation at Friedrichshafen also met representatives of YKK, Adidas, and Gore. They discussed new opportunities to expand cooperation between the Western companies and their Russian partners, the report said. For Russia, this would mean extra revenues, capacity utilization and upgradation, more jobs, and production localization, the report said. (SH)

Fibre2Fashion News Desk – India

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