Forum 2017

On 28−29 November, the 3rdRussian-British Business Forum was held in London, organised by the Ministry for Economic Development of the Russian Federation, the Trade Delegation and the Embassy of the Russian Federation in the United Kingdom 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, Secretary of State — Deputy Minister of Economic Development of the Russian Federation Oleg Fomichev, President of the Republic of Tatarstan Rustam Minnikhanov, Representative of the President of the Russian Federation for the Protection of Entrepreneurs' Rights Boris Titov, representatives of the House of Lords and the House of Commons of Great Britain, representatives of high-profile authorities and business associations, and heads of Russian and British companies
In 2017, the Forum hosted more than 500 participants and 35 high-level speakers, and received the support of 30 Russian and international organisations
Oleg Fomichev
Secretary of State — Deputy Minister of Economic Development
"In 2017, business activity between Russia and Britain began to recover. Today, we are expanding the agenda again, creating conditions for the growth of trade in investments. Prospects for new directions are opening up before us, and innovative projects and cooperation at the level of small and medium-sized businesses are gaining in importance."
Boris Titov
Representative of the President of the Russian Federation for the Protection of Entrepreneurs' Rights
"Today, many representatives of Russian business are interested, on the one hand, in finding export opportunities and partners abroad. On the other hand, there is a need to increase labour productivity and make it more competitive, which requires the development of technology transfer, acquisition of new knowledge, and finding new ideas and ways to implement them. All this is best supported by strengthening contacts with representatives of the world’s leading economies. London, as one of the world’s main financial centres, provides excellent opportunities here. In addition, the withdrawal of the UK from the European Union generally makes it possible to give a new impetus to foreign economic relations with Russia, allowing us to see additional opportunities for dialogue between Russian and British entrepreneurs."
Rustam Minnikhanov
President of the Republic of Tatarstan
"Today, the Republic of Tatarstan provides ample opportunities for international cooperation. The openness of our region, along with stable, profitable and transparent working conditions, define the business and investment climate of the Republic of Tatarstan as stable and attractive. In the energy, information technology, engineering, light industry, medicine and other industries, with our international partners we have already done much groundwork and there are promising new growth points. Traditionally, relations with British colleagues have been of special importance for us. I am confident that events such as the Russian-British Business Forum help develop our relations and realise the great potential in trade, investment and scientific research activities."
Boris Abramov
Russia’s Trade Representative in the UK
"In 2017, we are seeing an increase in trade turnover between Russia and Britain for the first time after a three-year recession. Although it’s too early to say that all negative trends have been overcome, the positive dynamics in our trade and economic relations and the presence of mutual interest in many industries shows the need and prospects for building up cooperation.

We expect that the 3rdRussian-British Business Forum, as an open platform for dialogue, will make a significant contribution to creating an atmosphere of trust and mutual understanding today, and to laying the foundation for effective cooperation in the post-Brexit era."
Alexander Yakovenko
Ambassador Extraordinary and Plenipotentiary of Russia to Great Britain
"The potential for Russian-British trade and economic relations is several times higher than today’s level of exchange of goods and services.

Russian business and ideas are making real inroads into the UK, and British business and investment are doing likewise in Russia, and the foundation of these processes is based on long-standing successful historical experience.

I am confident that, step by step, long-term economic interests will prevail over the current British political environment, which so far has slowed down the joint mutually beneficial development of these two major world economies.

To achieve this, under the current conditions, we are developing a systematic dialogue with representatives of the authorities and business, and are seeing the reciprocal interest of many of our colleagues in the UK."
Roger Munnings
Chairman of the Board of Directors of the Russian-British Chamber of Commerce
"It is likely that the unpredictable result of US and European sanctions against Russia has been to stimulate acceleration of the modernisation of the Russian economy and, simultaneously with the lowering of oil prices, its diversification from the traditional foundations of oil and gas, metals and mineral mining.

Under the sanctions regime, there are many opportunities for profitable investment and trade related to maintaining new trends in the Russian economy. These opportunities will be of interest to foreign companies with the appropriate competencies, experience and skills."
Lord Waverley
Member of the House of Lords of Great Britain
"After Brexit, British business will have to ensure its own competitiveness in new markets and strengthen its position in the existing markets. Russian imports in the first half of 2017, the first year after the full restoration of the Russian economy, amounted to 102 billion dollars. Britain, along with Germany and the Netherlands, can secure its own share of Russian imports. Understanding these aspects and opportunities is of paramount importance.

The forthcoming Russian-British Business Forum will allow British business to meet and discuss new challenges with colleagues from Russia. This will help the British government to build important bilateral relations and conduct constructive dialogue at a new level."
Anton Alikhanov
Governor of the Kaliningrad Region of the Russian Federation
"Today, developing trade and investment cooperation with the business community in the UK is an important task for the Kaliningrad region.

Its favourable geographical position, many years' experience of working with European partners and the Special Economic Zone regime, which provides attractive tax breaks and customs preferences, offer excellent opportunities for developing new business in the region. In turn, the region is interested in cooperating with British business in the multifaceted development of the services sector and in investment cooperation in promising transport, industrial and infrastructure projects."
Gary O'Grady
Managing Director of Blackthorne International Transport Ltd
"Without doubt, in a few years, business ties between Russia and Great Britain will significantly strengthen, and trade and economic relations will reach new record levels. Today, there is no more important market we could reach than Russia. In this regard, the Russian-British Business Forum is a key event in the year, which makes a huge contribution to the development of Russian-British relations and helps us stay informed of important events."

Report of the 3rd Russian-British Business Forum 2017

The 3rdRussian-British Business Forum provides an open platform for developing business ties and forming partnerships between Russian and UK business in the current economic realities