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Lipetsk region delegation to present in UK capital its economic and investment potential

November 12, 2013, 17:01 UTC+3 LONDON

The presentation is a chance for the UK and Europe to get a unique outlook on new bilateral business opportunities in Russian regions

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LONDON, November 12, 12:37 /ITAR-TASS/. The economic and investment potential of Russia’s Lipetsk region will be presented in the British capital on Tuesday by the regional delegation. The presentation has been organised by Worshipful Company of World Traders - one of the 109 Livery Companies of the City of London, and the RF trade mission in the UK.

The presentation is a chance for the UK and Europe to get a unique outlook on new bilateral business opportunities in Russian regions, in the Lipetsk region, in particular, as well as to have face to face meetings with the officials making decisions, the Worshipful Company told Itar-Tass. This May, its delegation visited Moscow and the Lipetsk region within the framework of supporting the Lord Mayor during his visit to Moscow.

The Russian delegation is headed by deputy chief of the regional administration Andrei Kozoderov (in charge of investment and development issues). Representatives of the British and international business communities, as well as organisations promoting the development of Russian-UK trade and economic cooperation have been invited to attend the presentation of the Lipetsk special economic zone and the business environment in the region.

The Russian Federation has vested significant economic powers in six of its regions to accelerate their industrial and technological development, the organisers stated. The Lipetsk region is one of them. A special economic zone, which is located about 500 km south of Moscow, is functioning in it. The region has been highly assessed by rating agencies.

According to the UK Trade and Investment (UKTI) department, Russia is currently the fastest growing major export market for the United Kingdom, however, British companies know little about regions outside Moscow, except the oil and natural gas sectors, said the organisers. The presentation is aimed at raising the local business community’s awareness about wide business opportunities in Russia.

According to the UK Department for Business, Innovation and Skills, in the period from 2009 to 2012 the UK exports of goods and services to the RF have increased by 75 percent - from 4.3 to 7.6 GBP ($6.9 - $12.2). At present, about 600 UK companies work in Russia.

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