Minister of State for Trade and Investment Lord Green arrives in Russia today to attend the St Petersburg International Economic Forum.
Over the next couple of days, Lord Green will join Russian President Dmitri Medvedev, Chinese President Hu Jintao and other political and business leaders at the St Petersburg International Economic Forum to talk about how to improve the investment climate in Russia.
At the start of his visit, Lord Green will open the new assembly facility of the British company Spirax Sarco, which exports and installs energy efficient equipment in Russian factories. Given the scale of the industries which need modernisation in Russia, and their high level of energy intensity, this is a sector with high growth potential.
Lord Green will speak to an audience of UK and Russian business about the strengths of UK products and skills across a range of sectors, and meet UK companies who are overcoming the challenges and growing their businesses. In 2010, UK exports to Russia were up by 51%, recovering ground lost in the economic crisis.
Lord Green visit to St Petersburg
The St Petersburg International Economic Forum is an annual economic summit, bringing together governments, businesses, international organisations and experts. It has been described as the ‘Russian Davos,’ the equivalent of the annual World Economic Forum meeting in Davos, Switzerland.