Doing Business In Russia

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News 14

British business urged to invest in Russian markets

The Government has called for businesses to explore opportunities in Russian markets after a visit from the country's First Deputy Prime Minister, Igor Shuvalov, to London.

Business Secretary Vince Cable hosted a business summit with the Deputy PM, where a series of commercial deals were announced.

Manufacturing firm, Tensar, will build a plant in St. Petersburg in a project worth £12m, which will protect 150 jobs in Blackburn.

A £60m programme was secured by construction company Stoneguard to build a waste facility in Novosibirsk, whilst UK Export Finance and Russia's Export Credit Agency signed a co-operation agreement.

British exports to Russia grew by 39% in 2011 to £4.78bn, and the country has been identified as the world's 14th fastest growing economy.


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