19 March 2018
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Trade between Russia and the United Kingdom could double in the next five years

London, 29 November 2017 - The Third Russian-British Business Forum was held in London on 28-29 November, organised by the Ministry of Economic Development of the Russian Federation, the Trade Delegation and Embassy of the Russian Federation in the UK 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, State Secretary-Deputy Minister for Economic Development of the Russian Federation Oleg Fomichev, President of the Republic of Tatarstan Rustam Minnikhanov, Presidential Commissioner for Entrepreneurs' Rights Boris Titov, representatives of the House of Lords and the House of Commons, representatives of specialized authorities and business associations and leaders of Russian and British companies.

According to forecasts presented during the forum, in 2017 business activity between Moscow and London will continue its gradual recovery, with trade turnover between the countries increasing by more than 20% to exceed US$12 billion. In 2017, there has been a trend of diversification of both Russian exports to the UK and British imports to Russia.

"In 2017, business within the two countries continued to adapt to the new reality, and trade and economic relations are now developing. If the current macroeconomic indicators remain on the same level and the potential for trade and investment cooperation is realised, trade turnover between Russia and the UK may double in the next five years", explained Oleg Fomichev.

"2017 has seen a continuation of Russia's trade surplus with the UK – Russia sells to Britain 1.7 times more goods and services than Britain sells to Russia. At the end of 2017, this figure will be more than $4 billion", added Boris Abramov, Trade Representative of the Russian Federation in the UK.

Over the first 9 months of 2017 Russian exports to the UK increased by 29.4% to US$6.5 billion compared to the 9 months of 2016. Russia's non-energy exports to the UK are growing steadily, amounting to US$3.1 billion (48.5% of exports). At the same time, demand for chemical products almost doubled (3.7% of exports), while demand for various Russian mineral products increased by a factor of nearly 1.5 (71.5% of exports). Demand for Russian metals and products made from them increased by 15.3% (3.2% of exports), while exports of precious metals and stones almost doubled (17.4% of exports).

Imports from the UK, based on the results of the first 9 months of 2017, increased by 18.7% compared to the same period in 2016. In connection with the revival of industrial production in Russia, demand for British machinery and equipment continued to grow (48.9% of imports), where growth reached 21%. The share of chemical products in the import structure is 34.1%. Third place goes to food products and agricultural raw materials (8.9% share).

         The UK retains its place among the top three in trade in services among all Russia’s partner countries (financial, transport, IT, consulting and other services). According to the Bank of Russia, the turnover of Russian-British trade in services is growing steadily, and over 6 months in 2017 increased by 15.8% to US$3.6 billion.


About the Russian-British Business Forum

The Forum’s purpose is to develop Russian-British economic relations and trade and investment cooperation between Russia and international business stakeholders. During the Russian-British Business Forum, Russian and British experts evaluate market dynamics for growth and international trade relationships, identify economic trends and international, British and Russian investors' interests, and set up ways of expanding bilateral and multilateral trade and economic cooperation.


For 2017, the two-day event is being organised by the Ministry of Economic Development of the Russian Federation and the Trade Delegation of Russia in the United Kingdom, together with its partners: BSI Global Group, Sberbank of Russia, Aeroflot Russian Airlines, Tatneft, Phosagro, SMP-Neftegaz, Freedom Finance, Synergy University, BLOOMBERG, London & Partners, the Russian Embassy in Great Britain, the Russian-British Chamber of Commerce, Skolkovo Foundation, Agency for Strategic Initiatives, Westminster Russia Forum, Cision PR Newswire and Rossotrudnichestvo. The Forum is held annually during the Eastern Seasons week of business and cultural events.

http://www.rbbf2017.ru/, https://www.facebook.com/rbbf2017/, https://twitter.com/RBBF2017, https://www.linkedin.com/company/18318216/.



About Eastern Seasons

The Eastern Seasons annual week of business, cultural and sporting events has been held since 2015 with the support of founding partner BSI Global Group. The project is aimed at developing trust and strengthening relations between Russia and Great Britain. The organisers of Eastern Seasons Week set out to create an international platform in London for productive business dialogue and cultural exchange. Partners and sponsors of Eastern Seasons 2017 are: BSI Global Group, Sberbank of Russia, Aeroflot Russian Airlines, Tatneft, PhosAgro, Synergy University, Freedom Finance, Cision PR Newswire, SMP-Neftegaz, Rossotrudnichestvo, Blackthorne, Pushkin House, Russian Film Week and Street Child United.

http://www.easternseasons.com/, https://www.facebook.com/easternseasons/, https://twitter.com/EasternSeasons, https://www.instagram.com/easternseasons/.


18.03.2018 - Statement by Vassily A. Nebenzia, Permanent Representative of the Russian Federation to the UN, at the Security Council meeting on letter dated 13 March

Statement by Ambassador Vassily A. Nebenzia, Permanent Representative of the Russian Federation to the United Nations, at the Security Council meeting on letter dated 13 March 2018 from the Chargén d'affaires a.i. of the Permanent Mission of the United Kingdom of Great Britain and Northern Ireland to the United Nations addressed to the President of the Security Council

17.03.2018 - Press release on summoning UK Ambassador to Russia Laurie Bristow to the Russian Foreign Ministry

On March 17, UK Ambassador to Russia Laurie Bristow was summoned to the Foreign Ministry, where he was handed a note stating that in response to the provocative actions of the British side and groundless accusations against the Russian Federation with regard to the incident in Salisbury, UK on March 4, 2018, the Russian side has taken the following decisions in response. Twenty-three diplomatic staff of the UK Embassy in Moscow are declared persona non grata and are to be expelled from Russia within a week. Taking into account the disparity in the number of the two countries’ consular missions, the Russian Federation recalls its agreement on the opening and operation of the Consulate General of the United Kingdom in St Petersburg. Respective procedures will be followed in accordance with international legal practice. Due to the unregulated status of the British Council in the Russian Federation, its activities are terminated. The British side is warned that in case of further unfriendly actions against Russia, the Russian side reserves the right to take further retaliatory measures.

16.03.2018 - Statement by the Foreign Ministry

The decision by the Ukrainian authorities, released on March 16, 2018, not to allow citizens of the Russian Federation to the Embassy and general consulates of Russia on the day of the election of the President of the Russian Federation causes nothing but indignation. Such actions are unprecedented and do not fit into generally accepted ideas about civilised countries. The above steps contradict not only the Vienna Conventions on diplomatic and consular relations, but also international human rights standards, in particular, the provisions of the 1950 Convention for the Protection of Human Rights and Fundamental Freedoms.

14.03.2018 - Embassy Press Secretary comments on the death of Russian citizen Nikolay Glushkov and the poisoning of Sergei and Yulia Skripal

Q: Can you comment on the mysterious death of the Russian citizen Nikolay Glushkov in London? A: Regretfully, the Embassy has received no information whatsoever regarding the circumstances of the death of Mr Glushkov. The investigation is not transparent, the British side appears not inclined to cooperate. This can only cause regret. Today the Embassy made an official request to provide all the information in possession of the British side regarding this Russian citizen whose death, as you said, appears mysterious. Overall, we are surprised with UK authorities’ reluctance and unwillingness to provide us with full details of both the poisoning of Russians Sergei and Yulia Skripal and the death of Nikolay Glushkov.

14.03.2018 - Statement by the Foreign Ministry

The March 14 statement made by British Prime Minister Theresa May in Parliament on measures to “punish” Russia, under the false pretext of its alleged involvement in the poisoning of Sergey Skripal and his daughter, constitutes an unprecedented, flagrant provocation that undermines the foundations of normal dialogue between our countries.

14.03.2018 - Comment by the Information and Press Department on US threats to launch military strikes at Syria

During the discussion of Resolution 2401 on the ceasefire and the humanitarian pause in Syria in the UN Security Council on March 12, US Ambassador to the United Nations Nikki Haley implied that the US might launch military strikes at Syria similar to last April when such actions were based on unfounded unilateral US accusations of the use of chemical weapons by the Syrian Government. Russia and Syria were also accused of violating the ceasefire and causing the suffering of civilians, primarily in East Ghouta.

14.03.2018 - Statement of the Russian Embassy

On 14 of March Russian Ambassador Alexander Yakovenko was summoned to the Foreign and Commonwealth Office where he was informed that 23 diplomats were declared personae non gratae. We consider this hostile action as totally unacceptable, unjustified and shortsighted. All the responsibility for the deterioration of the Russia-UK relationship lies with the current political leadership of Britain.

13.03.2018 - Statement by Permanent Representative of the Russian Federation to the OPCW, Ambassador Alexander Shulgin, at the 87th session of the OPCW Executive Council on the chemical incident in Salisbury, The Hague, March 13, 2018

Mr Chairperson, In connection with the vicious attacks launched by British officials in London, as well as the statement by the head of the British delegation to the OPCW with regard to Russia concerning the suspicious story of two persons poisoned with a toxic agent in Salisbury, we would like to state the following. The British authorities’ unfounded accusations of Russia’s alleged involvement in using poisonous agents on their territory are absolutely unacceptable. Our British colleagues should recall that Russia and the United Kingdom are members of the OPCW which is one of the most successful and effective disarmament and non-proliferation mechanisms. We call upon them to abandon the language of ultimatums and threats and return to the legal framework of the chemical convention, which makes it possible to resolve this kind of situation.

13.03.2018 - Press release on summoning the UK Ambassador to the Russian Foreign Ministry

On March 13, Ambassador of the United Kingdom to Russia Laurence Bristow was summoned to the Russian Foreign Ministry, where First Deputy Foreign Minister Vladimir Titov strongly protested the evidence-free accusations by the UK authorities of Russia’s alleged involvement in the poisoning of Sergei Skripal and his daughter Yulia. It was stated that the actions of the UK authorities are a clear provocation and that the Russian Federation was not involved in the incident that took place in Salisbury on March 4, 2018. From the Russian side, it was emphasised that Moscow will not respond to London’s ultimatum until it receives samples of the chemical substance to which the UK investigators are referring and until the UK demonstrates compliance with the Chemical Weapons Convention that stipulates a joint investigation into the incident, for which Moscow is ready. Without that, there can be no sense in any statements from London. The incident appears to be yet another crooked attempt by the UK authorities to discredit Russia. Any threat to take “punitive” measures against Russia will meet with a response. The British side should be aware of that.

13.03.2018 - Press Secretary responds to media question

Q: Can you comment on yesterday’s threats of cyber attacks against Russia? A: Statements by a number of MPs, “Whitehall sources” and “experts” regarding a possible “deployment” of “offensive cyber-capabilities” cause serious concern. Not only is Russia groundlessly and provocatively accused of the Salisbury incident, but apparently, plans are being developed in the UK to strike Russia with cyber weapons. Judging by the statements of the Prime Minister, such a decision can be taken at tomorrow’s meeting of the National Security Council. We invite the British side to once again consider the consequences of such a reckless move.

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