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Russia is one of the UKs fastest growing export markets

British businesses urged to look to Russia

The business secretary Vince Cable has called for British businesses to pursue export opportunities in Russia.

The call comes after a business summit with the Russian deputy prime minister, Igor Shuvalov, which included announcements for a number of joint initiatives.

Firstly, the British firms Tensar and Stoneguard are to build facilities in St.Petersburg and Novosibirsk respectively, and secondly, a co-operation agreement has been signed between UK Export Finance and Russia’s Export Credit Agency.

“Britain’s trade with Russia is rapidly expanding and the opportunities will only continue to grow as its economy opens up further to trade and investment,” said Vince Cable.

??“Important steps like Russia’s accession to the World Trade Organisation earlier this year are making it easier for UK firms to do business there. We look forward to working closely with Russia to further develop new opportunities, delivering real economic results for both countries."

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