Custom «A Current Event in Russia» Essay Paper Sample
Russia is a country with an economic market that has natural resources especially natural gases. The Russian economy is the tenth largest economy in the world. There are many Business-to-Businesses in Russia. The latest entry in the Russian market is the EC21 a form of business-to-business. It is the world's leading B2B marketplace. In February 22, 2011, the EC21 declared its current signing of agreements with SIBIR Limited, which is a liability Company (EC21 Inc., 2011). The intention of the EC21 to have new offices of sales in the Russian market is an ideal proposition. SIBIR Company provides consulting services and information in the market environment and navigation of B2B network. SIBIR will use their local contacts in representing EC21 premier and general services allover Russia especially in Moscow (Steve, 2011)
EC21 is an expert in internet trade field and understands the needs of buyers and seller. The impact of the EC21 on the Russian economy will be to link the buyers and sellers worldwide. In the short-term, the system has powerful features, which are user-friendly for the convenience of buyers and sellers. It also provides a membership premium that is free and suppliers can create their homepages easily (EC21 Inc., 2011). Buyers can also use the site easily at no cost in search of new products. They can locate new suppliers, contact them in the short term, and keep them as their long-term suppliers.
In the long-term, the system will have helped all its users to buy or sell products effectively globally. Cultural differences will be outdated for the Russian if they adopt this system. This is because they will not have to learn the cultures of other countries to be in business with them. There is no limitation of the trade no matter where the supplier or the buyer is located. This is because EC21 is one of the largest B2B network and the most popular with over three million listings of product.
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EC21 is important for any company that intends to succeed in global business through its effective tools. It holds thousands of suppliers and buyers in over two hundred and twenty countries that are its members. This is growing rapidly as it enters to different markets with the example of Russian market. EC21 is an open, global market for all companies seeking to be worldwide. It also allows its members to manage their business directly through an online product based on up-to-date information on the products (Risa, 2011)
EC21 is the world's leading business-to-business electronic commerce, which has successfully connected millions of business people worldwide. It will connect buyers and seller globally through various modes. Exporters and importers worldwide will be connected through the www.ec21.com, which is a global business-to-business marketplace, and a cn.ec21.com, which is a Chinese-version. On the other side, kr.ec21.com is used in Korean for domestic trade (EC21 Inc., 2011).
In Russian market, the development of B2B services, especially the e-commerce has not been in the market for long. Therefore, for EC21 to develop it sales in the Russian market, it would require collaborating with SIBIR, which is a great market opportunity (Risa, 2011). The collaborating will help in development of the new brand in Russian market. Additionally, the expansion of the EC21 will help in creating an easy market for international trade in Russia. This means that Russia will be conduct it businesses globally. Russian companies in the local offices will be able to provide guidance effectively to SMEs on the way they can promote their products to reach the global buyers or suppliers (Steve, 2011).