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15 Apr 2014

MosBuild: positive results for Québec companies

Eight Québec companies from the construction and related products sector took part in a trade mission led by Export Québec to MosBuild in Moscow from March 31 to April 4.

The mission, whose objective was to raise awareness of the expertise of the companies and to help them market their products in Russia, was a resounding success. Certain participants have already inked agreements with Russian partners.

The representatives of the companies had the opportunity to visit a Canadian-style residential village built by an architect from British Columbia and to meet with a number of distributors.

One-on-one matchmaking sessions were organized in collaboration with local consultants and the Québec Government Office in Moscow.

The sessions enabled the Québec entrepreneurs to identify challenges facing them in the Russian market, better understand the barriers to the development of emerging markets and sign business agreements.

A booming sector

In 2009, the construction and engineering sector generated US $41.9 million in Russia, which represents an average annual growth of 5.4% since 2005.

The non-residential construction segment was the most lucrative, generating revenues of $24.1 million, which represents 57.6% of the total value of the industry. The construction sector is slated to grow by 14.8% in 2014 in Russia and could reach US $48.1 million by the end of the year.

Against this backdrop, exciting opportunities exist for the Québec construction industry, which is facing difficulties in the North American market.

MosBuild

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