Macedonia's investment opportunities will be presented in the Russian Federation from Sunday till Thursday.

A government team led by Vice PM and Finance Minister Zoran Stavreski will present country's advantages for investing before Russian businessmen.

The delegation, which also includes Minister for Foreign Investments Bill Pavleski and director of the Directorate for Technological and Industrial Zones (TIRZ), Viktor Mizo, kicks off its presentations in Rostov, followed by similar events with entrepreneurs in Krasnodar. The visit ends in Soci with presentations of Macedonia's possibilities for running a business.

The Republic of Macedonia and the Russian Federation are fostering an intensive economic cooperation. Trade exchange is a dominant form of cooperation standing at over US$700 million in 2011. Most importantly, Macedonian export to Russia marks a record-breaking increase of 140%, while Russia's export to Macedonia is nearly 28.7%.

The two countries in order to advance the overall trade relations signed in 1993 an agreement on trade and economic cooperation between the governments of Macedonia and Russia. An inter-governmental Macedonian-Russian commission for economic and scientific cooperation has been formed to monitor the implementation of the accord and to prepare adequate recommendations for improving bilateral business ties.

On Macedonian part, chairman of the Mixed Macedonian-Russian Commission is Vice PM Zoran Stavreski, while the Russian sector is led by Deputy Minister for Regional Development, Maxim Travnikov. It is estimated that coopperation needs to be boosted by opening of business offices for regular collaboration and by forming mixed Macedonian-Russian firms.

Economic cooperation i.e. the level of trade exchange with an emphasis on increasing export from Macedonia to Russia is of great importance to further strengthen the Macedonian-Russian ties.

Russian investments in Macedonia last year stand at 5.19 million euros. Given the economic and investing potential of Macedonia, the scope of foreign direct investments is considered small. It is expected Russia to launch an investment cycle in Macedonia, especially in the energy sector.

Russian pharmaceutical holding "Protek Group" has started constructing a plant in Skopje and is planned to be completed in 2015. "Lukoil" oil company is already expanding its businesses across Macedonia.

Russia is one of the countries expected to increase its investments in Macedonia in the sectors of car components, IT, agriculture, food processing, business services and outsourcing, pharmaceuticals, energy, renewable energy sources, tourism, construction and infrastructure.

Cooperation might be established involving the construction of Cebren and Galiste hydro-power plants and gasification in Macedonia.