The Trade Delegation of the Russian Federation in the United Kingdom as a governmental body is acting on the basis of the bilateral intergovernmental agreement and representing economic interests of Russia in this country.
Main goals and activities of the Russian Trade Delegation
The Trade Delegation is a means of non-financial support of foreign economic activity of the Russian Federation. The Trade Delegation operates according to the “Statute on the Trade Representation of the Russian Federation in the Foreign State” approved by the Government’s Decree No 401 dated 27 June 2005.
According to the Statute, the main goals of the Trade Delegation include representation and ensuring of foreign economic interests of the Russian Federation in the UK, effective implementation of foreign economic policy of the Russian Federation, development of economic ties and trade between Russia and the UK, attraction of investments into the Russian economy, promotion of Russian goods and services in the UK and general assistance to Russian companies in the United Kingdom. The Trade Delegation also renders assistance to British companies interested in the Russian market, in particular via searching for trade and project partners in Russia and providing information about the Russian market.
The Trade Delegation in the UK also represents interests and ensures membership of the Russian Federation in a number of international commodity organizations headquartered in London such as International Sugar Organisation, International Coffee Organisation, International Cocoa Organisation, and International Grains Council.
The Trade Delegation carries out its activities aimed at development of the Russian-British economic activities in the following major areas:
Information support and analysis Provision of information and analysis to Russian/British companies interested in entering or exporting to the British/Russian market is an important part of the Trade Delegation’s activities. Particular attention is paid to information support of Russian exporters entering the British market.
The Trade Delegation provides to businesses of two countries the information on the following topics:
- macroeconomic and business environment in Russia and the UK;
- overview of specific sectors, industries in Russia and the UK;
- analysis of product and service markets, selection of target market segments, market risk-assessment;
- evaluation of market opportunities for various Russian goods and services;
- Russian-British trade and investment statistics;
- potential partners for trade and joint projects and assessment of their business background;
- largest and most interesting business events (exhibitions, fairs, trade shows, seminars) in various sectors in the UK and Russia.
Consultancy on foreign economic issues
The Trade Delegation provides consulting on different aspects of foreign economic activities including selection of potential trade partners, certification procedures, company registration rules, existing trade barriers, customs procedures when importing to the UK.
The Trade Delegation also provides legal consultancy to Russian companies planning to enter the UK market, e.g. consultations on taxation legislation, export/import, customs and currency regulation as well as pre-trial commercial dispute resolution.
Promotion of Russian goods and services in the UK and development of inter-regional cooperation
The Trade Delegation jointly with the Ministry of Economic Development of the Russian Federation organizes business missions, negotiations and meetings of Russian officials and businessmen with their British counterparts aimed at development of international cooperation, facilitating experience and knowledge sharing, establishment of business contacts and finding new partners.
The Trade Delegation renders assistance to Russian companies in organizing exhibitions in the UK, establishing contacts and communicating with exhibition organizers, preparation of joint expositions at various trade shows to optimize their costs.
It also organizes road shows of Russian companies and regions in the UK in order to promote their investment attractiveness and economic potential. In particular, in 2014 a permanent exposition of export potential of Russian regions has been established at the Trade Delegation for this purpose.
The Trade Delegation works with British industry and business associations among which are the Confederation of British Industry (CBI), Russo-British Chamber of Commerce (RBCC), British Chambers of Commerce (BCC), London Chamber of Commerce and Industry (LCCI) and others.
If you are going to start or to extend business with Russia, please don’t hesitate to contact us promptly.