3 September 2009
City of London strengthens business ties with Russia
The Lord Mayor of the City of London, Alderman Ian Luder, is
leading a business delegation visiting Russia to further strengthen
business and economic links with the UK. The 25 strong delegation,
includes representatives from all the major financials services
sectors: five from banking, four from legal services, three from
accountancy and two from insurance. Cass Business School is also
represented. The delegation arrives in Moscow on Sunday 6 September
and then travels to St Petersburg on Wednesday 9 September.
Whilst in Russia, the Lord Mayor, who also acts as the global
ambassador for UK-based financial services, plans to meet with
Gennady Melikyan, Deputy Chair of the Central Bank; Aleksei Kudrin,
Minister for Finance; Yuri Luzhkov, Mayor of Moscow as well as
Mikhail Oseyevsky, Vice-Governor of St Petersburg.
Bilateral trade with Russia has been growing steadily in recent
years and the UK is the largest cumulative investor in Russia. One
of the key aims of the Lord Mayor’s visit is to demonstrate that,
particularly in these difficult economic times, it is vitally
important that sound and lasting economic ties are maintained.
The Lord Mayor, Alderman Ian Luder said:
“The City of London has become the location of choice for
Russian companies looking to raise capital on international markets
so it is essential we work to maintain these strong business
links.
“The banking crisis is a global phenomenon and consequently has
global ramifications. It has created a particularly challenging
environment for companies wishing to raise capital but there is
evidence of renewed appetite among investors. Transparency, clear
regulation and stability are needed more than ever, both to help us
emerge from this crisis and also to build on our strong business
and economic ties with Russia.”
# The Lord Mayor will make a keynote speech at Moscow Interbank
Currency Exchange (MICEX) on Wednesday 9 September, followed by a
meeting with the President of MICEX. Whilst in St Petersburg the
Lord Mayor makes a speech at the opening of the London Stock
Exchange Roadshow. He will also attend a series of roundtables and
seminars discussing a range of issues including developing the
insurance, pensions and savings sector of the Russian financial
market, strengthening bankruptcy laws and the role of
infrastructure financing and PPP.
Ends
Notes for editors
About the Lord Mayor of the City of London
The Lord Mayor is elected for one year and the position is
unpaid and apolitical. It is an exceptionally demanding role. The
Lord Mayor spends some 90 days abroad and addresses some 10,000
people face-to-face each month (making around 800 speeches a
year).
The Lord Mayor listens to City businesses and helps the City
Corporation advise the Government of the day on what is needed to
help the financial services sector to function well. The Lord Mayor
frequently travels to represent the City; and travels overseas with
the status of a Cabinet Minister. On average, the Lord Mayor will
meet one head of state a month and will meet a prime minister or
finance minister each week to discuss financial services, often in
conjunction with senior City business representatives. The Lord
Mayor, who is unpaid, lives in the Mansion House for the
Mayoral year.
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About the City of London Corporation
The City of London Corporation is a uniquely diverse
organisation. It supports and promotes the City as the world leader
in international finance and business services and provides local
services and policing for those working in, living in and visiting
the Square Mile. It also provides valued services to London and the
nation. These include the Barbican Centre and the Guildhall School
of Music & Drama; the Guildhall Library and Art Gallery and
London Metropolitan Archive; a range of education provision
(including three City Academies); five Thames bridges (including
Tower Bridge and the Millennium Bridge); the Central Criminal Court
at Old Bailey; over 10,000 acres of open spaces (including
Hampstead Heath and Epping Forest), and three wholesale food
markets. It is also London’s Port Health Authority and runs the
Animal Reception Centre at Heathrow. It works in partnership with
neighbouring boroughs on the regeneration of surrounding areas and
the City Bridge Trust, which it oversees, donates more than £15m to
charity annually.
Press contacts
Kristina Blissett, Press Office, City of London
Corporation
T: +44 (0)20 7332 3451 / M: +44 (0)7795 290040
Email:
kristina.blissett@cityoflondon.gov.uk
Elena Berdnikova, Press Officer, British Embassy Moscow
T :+7 495 956 72 11 / Fax: +7 495 956 74 30
Email:
elena.berdnikova@fco.gov.uk
Elena Mishkiniuk, Press Officer, St Petersburg
Email:
elena.mishkiniuk@fco.gov.uk