Deals for new export sales worth €9.2m were agreed by Irish firms during this week's trade mission in Russia.
30 Irish companies went on the trade mission, which was organised by Enterprise Ireland.
Irish high-tech firms Digisoft, Adaptive Mobile, OpenJaw and Norkom Technologies were among those that landed lucrative new sales deals.
Trinity College Dublin and Dublin Institute of Technology also announced partnership agreements with higher education institutions in Russia.
The trade mission was timed to coincide with President Mary McAleese's visit to Russia. The country is Europe's largest emerging market.
Speaking in Russia, the Minister for Trade and Commerce Billy Kelleher described the trade mission as 'another important step in Ireland's economic recovery'.
'Our economic recovery will be export-led and the Government's strategy is to target markets such as Russia with high growth potential that can generate revenues and jobs for Irish firms,' he said.
'The €9.2m worth of deals we landed here this week will create jobs back home and add momentum to our economic recovery,' the Minister added.
Irish exports to Russia grew by over 66% in the first five months of this year, while Ireland is the seventh largest provider of foreign direct investment to Russia - ahead of the US and Japan.
Meanwhile, President Mary McAleese has said a rigourous system of regulation is needed in order to avoid the extremes of future economic boom and bust. She also said light regulation was a recipe for trouble.
During day four of the President's official trip to Russia, Mary McAleese addressed students at the St Petersburg University of Economics and Finance where she said the international economic crisis has led a dwindling of confidence in financial systems.
She said that it had long been argued that heavy regulation was not the most conducive environment for business yet light regulation - as we now know to our cost - was a recipe for trouble.
The President said to avoid the extremes of boom and bust in the future, we need professionals who are hard wired to behave ethically.
She also said legal academics and economists must be more transparent if a more ethically driven economy is to be supported.
She said those in the professions had engaged in deliberately impenetrable transactions and said they need to make their dealings more open to effective regulation.
