The Russian Union of Exhibitions and Tradefairs (RUEF) has signed a Memorandum document directed to the Russian government asking for support for the congress and exhibition business during the Covid-19 crisis, with the signatories underlining the sector’s crucial importance for the economy.
The Memorandum outlines the industry’s support for government measures to combat the spread of the coronavirus, while noting the mounting losses to the sector, with cancellations likely to lead to bankruptcies and the loss of more than 140,000 jobs in the sector.
The hit to the economy could, RUEF believes, be in the region of 50 billion roubles (USD$6.7bn) with a domino effect taking place.
The RUEF reminds the Russian government in its Memorandum that the events industry in Russia contributes approximately 3% of the country’s GDP.
The Memorandum was signed by the President of Russia’s National Chamber of Commerce, S. Katyrin; President of the RUEF, S. Voronkov; Director of the National Convention Bureau, A. Kalachev, among other heads of business associations.
- The Government of Moscow has introduced a ban on all public events larger than 50 people until 10 April.