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Shuvalov to attend London session of RF-UK ICTI on Monday

October 29, 2012, 4:02 UTC+3

The Russian business segment will be represented by Alexander Shokhin, president of the Russian Union of Industrialists and Entrepreneurs

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LONDON, October 29 (Itar-Tass) Russian First Vice-Premier Igor Shuvalov, as well as representatives of various Russian agencies will attend a plenary meeting of the 9th session of the Russia-UK Intergovernmental Council on Trade and Investments (ICTI) here on Monday.

An official at the Embassy of Russia to the UK has told Itar-Tass that officials of the Russian Ministry of Education and Science, the Ministry of Foreign Affaris, and of many other ones, as well as executives of companies which implement large-scale Russia-UK projects, both in the territory of Russia and abroad, will participate in the session.

The Russian business segment will be represented by Alexander Shokhin, president of the Russian Union of Industrialists and Entrepreneurs. He and his British counterpart, John Cridland, Director-Generl of the Confederation of Birtish Industry, will attend ICTI's open meeting.

Those present are expected to discuss the following key areas of cooperation between Russia and Britian: the development of the financial services sector, ways to get out of the financial downturn, support for small and medium-sized businesses, efforts to raise the energy efficiency of enterprises, the importance of nano-scale technologies in the contemporary economy, the sharing of experience in the holding of Olympic Games, as well as the summing up of foreign trade results.

According to British government data, Russia is the most rapidly developing export market for the UK and third-largest one outside Europe and North America. UK export to Russia last year increased by 39 percent, as compared with that in 2010, to run at $7.7 billion.

ICTI was established in 1992. It is an important machinery for bilateral interaction and support for business cooperation. By a decision of the Russian government in summer this year, Igor Shuvalov was appointed to head the Russian side of ICTI. Vincent Cable, UK Secretary of State for Business, Innovation, and Skills, is the co-chairman of the British side of ICTI. The 8th session of ICTI was held in Moscow on November 26, 2010.

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