12 December 2017
Moscow: 16:48
London: 13:48

Consular queries:  
+44 (0) 203 668 7474  
info@rusemb.org.uk  

 

PRESS RELEASES AND NEWS

29.11.2017

Trade between Russia and the United Kingdom could double in the next five years

London, 29 November 2017 - The Third Russian-British Business Forum was held in London on 28-29 November, organised by the Ministry of Economic Development of the Russian Federation, the Trade Delegation and Embassy of the Russian Federation in the UK with the support of Russian and international partners to discuss the development of trade and investment relations between the two countries.

Forum participants included His Royal Highness Prince Michael of Kent, State Secretary-Deputy Minister for Economic Development of the Russian Federation Oleg Fomichev, President of the Republic of Tatarstan Rustam Minnikhanov, Presidential Commissioner for Entrepreneurs' Rights Boris Titov, representatives of the House of Lords and the House of Commons, representatives of specialized authorities and business associations and leaders of Russian and British companies.

According to forecasts presented during the forum, in 2017 business activity between Moscow and London will continue its gradual recovery, with trade turnover between the countries increasing by more than 20% to exceed US$12 billion. In 2017, there has been a trend of diversification of both Russian exports to the UK and British imports to Russia.

"In 2017, business within the two countries continued to adapt to the new reality, and trade and economic relations are now developing. If the current macroeconomic indicators remain on the same level and the potential for trade and investment cooperation is realised, trade turnover between Russia and the UK may double in the next five years", explained Oleg Fomichev.

"2017 has seen a continuation of Russia's trade surplus with the UK – Russia sells to Britain 1.7 times more goods and services than Britain sells to Russia. At the end of 2017, this figure will be more than $4 billion", added Boris Abramov, Trade Representative of the Russian Federation in the UK.

Over the first 9 months of 2017 Russian exports to the UK increased by 29.4% to US$6.5 billion compared to the 9 months of 2016. Russia's non-energy exports to the UK are growing steadily, amounting to US$3.1 billion (48.5% of exports). At the same time, demand for chemical products almost doubled (3.7% of exports), while demand for various Russian mineral products increased by a factor of nearly 1.5 (71.5% of exports). Demand for Russian metals and products made from them increased by 15.3% (3.2% of exports), while exports of precious metals and stones almost doubled (17.4% of exports).

Imports from the UK, based on the results of the first 9 months of 2017, increased by 18.7% compared to the same period in 2016. In connection with the revival of industrial production in Russia, demand for British machinery and equipment continued to grow (48.9% of imports), where growth reached 21%. The share of chemical products in the import structure is 34.1%. Third place goes to food products and agricultural raw materials (8.9% share).

         The UK retains its place among the top three in trade in services among all Russia’s partner countries (financial, transport, IT, consulting and other services). According to the Bank of Russia, the turnover of Russian-British trade in services is growing steadily, and over 6 months in 2017 increased by 15.8% to US$3.6 billion.

 

About the Russian-British Business Forum

The Forum’s purpose is to develop Russian-British economic relations and trade and investment cooperation between Russia and international business stakeholders. During the Russian-British Business Forum, Russian and British experts evaluate market dynamics for growth and international trade relationships, identify economic trends and international, British and Russian investors' interests, and set up ways of expanding bilateral and multilateral trade and economic cooperation.

 

For 2017, the two-day event is being organised by the Ministry of Economic Development of the Russian Federation and the Trade Delegation of Russia in the United Kingdom, together with its partners: BSI Global Group, Sberbank of Russia, Aeroflot Russian Airlines, Tatneft, Phosagro, SMP-Neftegaz, Freedom Finance, Synergy University, BLOOMBERG, London & Partners, the Russian Embassy in Great Britain, the Russian-British Chamber of Commerce, Skolkovo Foundation, Agency for Strategic Initiatives, Westminster Russia Forum, Cision PR Newswire and Rossotrudnichestvo. The Forum is held annually during the Eastern Seasons week of business and cultural events.

http://www.rbbf2017.ru/, https://www.facebook.com/rbbf2017/, https://twitter.com/RBBF2017, https://www.linkedin.com/company/18318216/.

 

 

About Eastern Seasons

The Eastern Seasons annual week of business, cultural and sporting events has been held since 2015 with the support of founding partner BSI Global Group. The project is aimed at developing trust and strengthening relations between Russia and Great Britain. The organisers of Eastern Seasons Week set out to create an international platform in London for productive business dialogue and cultural exchange. Partners and sponsors of Eastern Seasons 2017 are: BSI Global Group, Sberbank of Russia, Aeroflot Russian Airlines, Tatneft, PhosAgro, Synergy University, Freedom Finance, Cision PR Newswire, SMP-Neftegaz, Rossotrudnichestvo, Blackthorne, Pushkin House, Russian Film Week and Street Child United.

http://www.easternseasons.com/, https://www.facebook.com/easternseasons/, https://twitter.com/EasternSeasons, https://www.instagram.com/easternseasons/.




LATEST EVENTS

11.12.2017 - Сharity dinner in honor of the Arctic Convoys Veterans on the occasion of St Andrews Day

On 7 December Rotary Club of Motherwell and Wishaw host a charity dinner on the occasion of St Andrews Day with the participation of the Arctic Convoys veterans.


11.12.2017 - President Putin visited Khmeimim Air Base in Syria

December 11, 2017, 13:00, Syria At the air base, Vladimir Putin was met by President of the Syrian Arab Republic Bashar al-Assad, Russian Minister of Defence Sergei Shoigu and Commander of the Russian military group Sergei Surovikin. The Commander-in-Chief ordered the withdrawal of the Russian military group from Syria back to their permanent bases.


11.12.2017 - Russian President Vladimir Putin met President of Syria Bashar al-Assad

President Putin met with President of Syria Bashar al-Assad while on a tour of the Russian airbase at Khmeimim. The two leaders discussed the outcome of the counterterrorism operations in Syria.


09.12.2017 - Press release on First Deputy Foreign Minister Vladimir Titov’s consultations with British Minister of State for Europe and the Americas Alan Duncan

On December 8, First Deputy Foreign Minister Vladimir Titov had consultations in Moscow with British Minister of State for Europe and the Americas Alan Duncan.


08.12.2017 - Moscow Exchange Forum in London

On 6-7 December 2017 the Moscow Exchange held an Annual Business Forum in London, that marked its 25th anniversary and highlighted investment opportunities in Russia. The event gathered more than 400 top managers and high-ranking representatives of European, American and Asian banks, investment funds, service sector companies and professional associations.


05.12.2017 - Foreign Minister Sergey Lavrov’s message of greetings to organisers and participants in the 7th international forum The Arctic: Present and Future

Let me cordially welcome the organisers and participants to the 7th international forum The Arctic: Present and Future. Your Forum has confidently asserted itself as an authoritative venue for discussing the current issues on the Arctic agenda. The traditional representative composition of the participants makes it possible to consider every aspect of a broad range of issues related to ensuring the Arctic’s sustainable development and to providing detailed recommendations on how to enhance the effectiveness of measures for this purpose, including development of international cooperation.


04.12.2017 - Lecture at St Andrews University

On 4th December 2017 Consul General of Russia in Edinburgh Andrey A.Pritsepov gave a lecture to students studying international relations at the St Andrews University. The talk dedicated to «Post-Western world: a challenge and an opportunity» was met with interest by the audience.


01.12.2017 - Russian Ambassador visits Scotland

During a working visit to Scotland, the Ambassador of Russia to the United Kingdom Alexander Yakovenko read an open lecture at the University of Edinburgh on the topic "Russia's Foreign Policy" and took part in the Q&A session.


30.11.2017 - Foreign Minister Sergey Lavrov’s interview with the Libero, Italy

Foreign Minister Sergey Lavrov’s interview with the Libero, Italy, published on November 30, 2017


28.11.2017 - Foreign Minister Sergey Lavrov’s remarks at the Russian International Affairs Council’s general meeting, Moscow, November 28, 2017

Mr Ivanov, colleagues, friends, I’m pleased to participate in the Russian International Affairs Council’s general meeting devoted to its performance in 2017. Although the year is not out yet, it is already clear that it was, to put it mildly, by far not the easiest. Conflicts continue to increase. Constructive interstate cooperation is on the decline, unfortunately. Unipolarity throwbacks raise concerns as one centre of international influence wants to act like a hegemon resorting to fast-track decisions, military blackmail, and brute force in order to promote its goals. The situation surrounding the Korean Peninsula remains complex. Turbulence in the Middle East persists. Even though a major blow has been dealt to the terrorists who holed up there, we have so far failed to transform the mixed but generally useful experience gained by various stakeholders in forming a global anti-terrorist coalition under the auspices of the UN, the idea of which, as you are well aware, was advanced by President Putin about two years ago.



all messages