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ForeverGreen Worldwide Corporation (OTCBB: FVRG), a provider of nutritional foods and other healthy products, announced that it has completed registration for its natural products in Russia and is now ramping up its business operations after more than a year of preparatory work. The Russian market for organic products grew nearly 20 times its size between 2002 and 2008 and continues to post double-digit growth rates.
ForeverGreen has tailored its product offering and pricing to the Russian market with the assistance of a Russian specialist who has a great deal of experience helping companies grow in this emerging economy. ForeverGreen is poised to gain a foothold as the market continues to emerge.
With registration complete in Russia, ForeverGreen will also be able to easily register in Kazakhstan, where the certification process generally mirrors that of its former Eastern Bloc neighbor. Official government recognition is crucial in a market where consumers are accustomed to businesses that create a brief flash in the pan and then disappear. ForeverGreen aims to establish a long-term presence in the country and has spent much of the past year laying the foundation for success.
According to a Washington Post report, the Russian market for organic products has been progressing over the past several years. According to a Direct Sales Association publication, within the direct marketing industry, Russia now ranks as the ninth largest market and continues to climb. ForeverGreen leaders are already building grassroots support for its unique offering of natural foods and products with pre-signups and network building. Local offices and business centers are already in place to provide training.
Full product launch is anticipated for Q3 of this year.
“We are aggressively pursuing a stake in the fast-growing Russian market as part of our overall push in emerging economies worldwide,” said Brenda Huang, ForeverGreen vice president of international operations. “Growth in Russia has been explosive, and we’re excited to be among the earliest entrants in this rapidly emerging market.”