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Principles and channels to find new trade partners amid economic crisis

Author

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  • Svetlana Mikhailovna Balakireva

    (Russian Foreign Trade Academy, Moscow, Russia)

Abstract

The conditions of foreign trade cooperation of Russia’s companies with foreign counterparts, mainly from European countries, over the past two years - the EU economic sanctions against Russia, a sharp rise in the euro exchange rate against the rouble since November 2014 - emphasize the problem of finding new trading partners. The article considers the basic principles (the principle of a comprehensive assessment of a company’s performance, the principle of in-depth analysis of the opportunities and needs of future trade partners, the principle of monetary and financial security of possible initiatives and undertakings, the principle of expediency of developing new areas of trade and economic relations), which should be taken into account by senior management of Russia’s foreign trade enterprises in the search and selection of new trade partners. Besides, the characteristics of information channels to establish new business contacts with foreign companies are given.

Suggested Citation

  • Svetlana Mikhailovna Balakireva, 2016. "Principles and channels to find new trade partners amid economic crisis," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 4, pages 63-72, April.
    • Handle: RePEc:alq:rufejo:rfej_2016_04_63-72
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