By Marcus Leach
Prime Minister David Cameron has landed in Russia to promote British business.
Minister for Trade & Investment, Lord Green, is leading a delegation of 24 business leaders to Moscow as part of the visit.
Deals worth £215million will be announced, creating almost 500 UK jobs, with 24 companies taking part in the visit ranging from retail firms to engineering and financial services companies.
The Prime Minister also announced a special symposium to be held in St Petersburg in September next year for automotive and pharmaceutical companies interested in doing business in Russia.
Lord Green will visit the Moscow Planetarium where the British company Global Immersion designed and installed new theatres worth £4.5million. Whilst there he will meet the CEO of Rusnano, Anatoly Chubais, for the official announcement of Rusnano’s investment in Plastic Logic’s new electronic textbook.
Nick Baird, the chief executive of UK Trade & Investment, will visit the Luzhniki Stadium in Moscow with Lord Coe to hear from a UK consortium of companies on their bid to redevelop the Olympic Sports Complex Luzhniki. He will also witness the signings of Memorandum of Understanding between The FA and Wembley Stadium and Luzhniki Stadium on running a Centre of Excellence in stadium management to help with preparations for the 2018 World Cup. Visit Britain and the Russian Tourist Association will also sign an MoU to increase mutual co-operation.
The Intercontinental Hotel Group, whose headquarters are in Denham, Buckinghamshire, is also to announce the opening of their new hotel in Moscow. They will also announce expansion plans in Moscow and St Petersburg.
“It’s good for Britain and British jobs to connect our economy to faster growing parts of the world like Russia and I'm delighted that our trading relationship is growing stronger. I want us to forge stronger co-operation between the UK and Russia, enabling more British businesses to seize on the opportunities on offer,” Prime Minister David Cameron said.
Lord Green said there is vast potential in trade with Russia, and whilst certain challenges exist the future is bright.
“The rapid recovery of UK exports to Russia over the last two years shows the vast potential in this market," he said.
“Challenges do exist for companies thinking about business in Russia but the long-term prospects for the Russian economy are positive and the growth in exports shows companies are not being put off.
“UK companies can play their part in helping to modernise infrastructure, whether in sport or transport, and to support Russian ambitions to develop vital sectors of the economy such as energy efficiency and financial services.
“We will continue to work with Russia on improving the business climate and market access to create mutual prosperity, which is in both our interests.”
UK goods exports to Russia increased by 51 per cent in 2010 to £3.5bn and increased by 63 per cent to £2.1billion in the first six months of this year (1 January — 30 June).
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