UK government ramps up offering to support Russian investors
For a long time UK Trade And Investment (UKTI) has assisted UK businesses entering the Russian market. Today, however, UKTI announced it will broaden its sphere of activity, by launching schemes to support Russian companies interested in investing in the UK.
This development is in response to increasing demand by key players in both countries who are exploring commercial opportunities in Russia and the UK. Indeed, 2013 figures released by Russian Federal Customs Services show trade between the two countries increased by $1 billion last year.
It is encouraging to see the UK Government putting aside frontline political disputes, as it seeks to expand trade links which will benefit both countries. This could also be seen by the trade envoy to Russia in November 2013. Led by Secretary of State for Business, Vince Cable, the visit sent clear signals that the British Government is behind companies ready to explore commercial opportunities in Russia.