Selling to the Swedes Global Week of Entrepreneurship 18 November 2015 Magnus Sätterberg Deputy Head of Mission Embassy of Sweden in Minsk

Swedish Economy and current trade pattern with Belarus Practical tips for selling to Swedish importers Agenda

Imports are very important for Swedish exports, which represent 50% of Sweden’s economy Exports Imports Consumed in Sweden CONCEPTUAL Re-exported

The Swedish Economy is set to grow by 3% per year Source: Statistics Sweden, National Institute of Economic Research

After a dip in 2009, Swedish foreign trade has kept stable Source: Statistics Sweden Total trade, BEUR Exports Imports

Machinery Mineral fuels, lubricating oil Manufactured goods Raw material Chemicals Netherlands Machinery Mineral fuels, lubricating oil Manufactured goods Other finished goods Chemicals Food & beverage Other Germany Norway Denmark UK Finland Other Russia China France Belgium Poland Italy US 26 Belarus’ exports to Sweden small by comparison Source: Statistics Sweden Other Belarus 122 Swedish imports 2014, BEUR 0.04 Food & beverage Belarus

Imports from Belarus grow 33% January- June 2015 Source: Statistics Sweden Swedish imports from Belarus, MEUR Jan-Jun Forecast

Belarusian exports to Sweden lag far behind the Baltics, but are on par with Ukraine Source: Statistics Sweden Swedish imports 2014, MEUR

Swedish Economy and current trade pattern with Belarus Practical tips for selling to Swedish importers Agenda

Too few contacts between Sweden and Belarus means challenges for Belarusian producers Swedish buyers know little about Belarus Swedish buyers do not come to Belarus Swedish buyers do not know what ”Made in Belarus” stands for Belarusian producers need to go out and meet with potential buyers

Swedes are unhierarchial, international, informal and expect professionalism Swedish business: Specialized and diversified, part of global distribution chains Well-developed service sector, closely integrated with industry Corporate Social Responsibility increasingly important Swedish society: Low level of corruption and well-run bureaucracy Multi-cultural with a high level of immigration, well travelled Informal and unhierarchial Very consensus-oriented Used to foreigners and trusts that contracts/deadlines will be followed. Empowered to make decisions (or will have strong influence). Important to do your company research before the meeting

Inexperience with Belarus and Swedish culture means important to make buyer feel confident Previous export references and success stories have an impact Company background and story telling increasingly important High level of engineering knowledge - technical product details create confidence Easy, quick, informal (but still professional) communication is key

Sealing the deal: Swedes will try to avoid conflict and dislike changing any consensus reached Source: Richard Lewis Communications

Thank you very much.