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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.

Note

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.

Contacts:

* 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


About the Author

Crown Copyright. Material taken from the BERR- Department for Business, Enterprise and Regulatory Reform replacing DTI - Department for Trade and Industry. Reproduced under the terms and conditions of the Click-Use Licence.


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Article Published/Sorted/Amended on Scopulus 2008-10-24 18:37:12 in Business Articles

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