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Mid-sized firms embark on Russian trade mission

A Russian trade mission to Moscow and St Petersburg will take 25 mid-sized businesses from the UK, in an effort to create a strong foothold in the country and boost British exports.

A three-day visit began on Monday as the Government set about creating links in the emerging market.

Trade and Investment Minister Lord Green and CBI Director-General John Cridland led the mission to meet key business figures and Russian Government officials.

Exports to Russia have increased their value by 80% in the last two years, with 600 UK firms already operating in the country, and current exports totalling £5m.

The visiting companies, including Delcam, TAP Biosystems, BOCM PAULS LTD and Mivan, have gone over to explore the market and forge potential business relationships.

Lord Green commented: “Russia is our fastest growing major export market and, with 140 million consumers looking for quality British products and services, it offers great opportunities for British businesses.

“Important steps such as Russia’s accession to the World Trade Organisation are making it easier for British firms to do business there.

“The London Olympics showed the UK delivering an outstanding summer of sport on time and on budget.

“Now is the time for British businesses to build on this legacy and assist Russia in achieving its ambitious economic modernisation and infrastructure development goals.

“With this trade mission we are targeting new export opportunities for Britain’s mid-sized businesses in an important market.

“Building on National Export Week earlier this month, we’re keen to make strides in reaching our target to get another 100,000 UK firms exporting by 2020, helping to secure long-term and sustainable economic growth.”

Mr Cridland said: “Opportunities for British business abound in this fast growing market, from energy to life sciences to helping deliver the major sporting tournaments that Russia will be hosting in the coming years.

“We’ve identified a potential £30 billion export prize by 2020 if the UK creates the right business environment for our industries to thrive, and mid-sized businesses will be at the heart of this.”

This was posted in Bdaily's Members' News section by Miranda Dobson .