Auto Parts Trade Mission to Russia Slated for April 2012
The Department of Commerce is organizing an automotive parts and components business development mission to Russia April 23-28, 2012. This mission is designed to provide an opportunity to explore Russia’s rapidly expanding car and truck assembly market to a diverse cross-section of companies selling goods and services into the automotive sector, including components for vehicle manufacture, replacement parts, aftermarket products, repair equipment, capital equipment used for vehicle manufacture, testing equipment, and software and engineering services.
Given the current dynamics in Russia’s automotive sector, DOC strongly believes that significant opportunities for growth and expansion exist in Russia for U.S. manufacturers of automotive parts and components. Russians are prepared to pay for quality vehicles, DOC states, and Russian automotive manufacturers and the Russian government are seeking technology and business partnerships to meet this demand. Industry experts have indicated that there are especially good prospects for manufacturers of engines, electric and electronic components, trim, exhaust systems, plastic parts and instrumentation. In addition, there are increasing opportunities for export of air conditioners, anti-lock braking systems, airbags, power steering and automatic transmissions that are currently not manufactured in Russia.
A minimum of 15 and a maximum of 20 U.S. companies will be selected to participate in this mission. All applicants must submit no later than Jan. 6, 2012, a completed and signed mission application and a completed market interest questionnaire, which must include adequate information on the company’s products and/or services, primary market objectives and goals for participation. Each applicant must also certify that the products and services to be promoted through the mission are either produced in the U.S. or marketed under the name of a U.S. firm and have at least 51% U.S. content of the value of the finished product or service. Participants will be selected based on the suitability of their products or services to the market, their potential for business in Russia and the region, including the likelihood of exports resulting from the mission or investments that will lead to exports, and the consistency of their goals and objectives with the stated scope of the mission.