Ernst & Young launches Russia-UK Business Initiative
Moscow, London, 19 April 2012 – Today Ernst & Young is launching the Russia-UK business initiative. The objective of this initiative is to support UK companies operating and investing in Russia and Russian companies looking to invest or operate in the UK. With the increasing trade between the two countries, now is the right time to support these activities. There is also an opportunity to contribute to the dialog between governmental officials, including trade representatives, with the aim to improve the business environment in each market. The UK Business Centre will complement Ernst & Young's German, French and Japanese business initiatives.
As it was stressed by Russian President Dmitry Medvedev last year, there is “the need to increase trade and investment between Britain and Russia to support modernization”. This is consistent with British Prime Minister David Cameron desire “to offer British companies new opportunities (in Russia) to trade and invest and to develop our partnership in key growth sectors”.
The initiative will be led by Stuart Lawson. He is also Chairman of the Investment and Finance Committee for the Association of European Businesses. “This is a great opportunity to use some of the knowledge I have gained over the last 16 years in the Russian market to assist our Russian and British partnerships in delivering a seamless set of products to both in and outbound clients”, he says.
Mr. Tim Barrow, Her Majesty’s Ambassador to the Russian Federation, adds, “We welcome Ernst & Young’s initiative to establish a "UK Business Centre”, building on the firm's existing strong business in both the UK and Russia. While recent years have seen a rapid increase in two way trade and investment flows between the UK and Russia, we judge there remains substantial potential. Ernst and Young's "UK Business Centre" should help exploit that potential: assisting UK companies coming to Russia or those already in the market. As well as helping Russian individuals or companies are looking to invest in Britain or to tap the UK markets."
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