Peter Mandelson supports British business with Moscow trade visit
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24 Oct 2008
Business Secretary Lord Mandelson is to lead a delegation of business leaders
to Russia, where more than a thousand British companies are now investing.
The four day visit, with a business delegation led by CBI Director General
Richard Lambert, begins on Sunday and is designed to underline the importance of
economic links between the two countries as well as being an opportunity for
dialogue about the international response to the global financial crisis.
Lord Mandelson said: "We are the largest investors in Russia and so UK
business has a significant stake in the Russian economy and significant
interests in its success. Russian companies are active in London's financial
markets. When countries all over the world are hit by economic slowdown, it is
important that we maintain political and business engagement."
During the visit, which had been arranged originally for his predecessor John
Hutton, Lord Mandelson is expected to hold discussions with Deputy Prime
Minister Alexei Kudrin and other senior Ministers, to meet representatives of
Russian businesses including the financial services and energy sectors and to
take part in discussions on the trade and investment climate in Russia.
He has also been invited to speak on "The Global Economy: why integration
works" to students at the leading university, the Higher School of Economics.
The CBI delegation includes representatives from Aviva; BP Russia; Ernst&
Young; JCB; Hambro Mining; and Whitbread. Also attending will be Tim Eggar,
chair and president of the Russo-British Chamber of Commerce.
1 Exports from the UK to Russia are now worth more than £2.6 billion a year,
up 52.2% on a year ago. It is the UK's 12th largest export market, exceeding
both India and Japan this year.
2 UK businesses present in Russia include HSBC, Cadbury Schweppes,
Pilkington, British Home Stores, GlaxoSmithKline, Unilever, Rolls Royce,
Barclays, BP and Shell.
3 UK Trade & Investment is the UK Government's international business
development organisation, supporting businesses seeking to establish in the UK
and helping UK companies grow internationally. The services offered by UK Trade
& Investment bring together a network of business sector specialists and support
teams in British embassies and Foreign and Commonwealth Office (FCO) posts all
around the world, as well as key experts in government departments across the
UK. UK Trade & Investment works with a wide range of partner organisations in
the UK, including Regional Development Agencies and the Devolved
Administrations, Business Links, Chambers of Commerce and trade associations.
* Department for Business press office on +44 20 7215 3505
* Aileen Boughen, Department for Business on +44 7810 655094 (Sun - Wed)
* British Embassy, Moscow Press Secretary James Barbour on +7 495 956 7359
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Article Published/Sorted/Amended on Scopulus 2008-10-24 18:37:12 in Business Articles