London Regards Moscow as Crucial Trade Partner

The United Kingdom sees Russia as an important trade and business partner, Lord Mayor of the City of London Gavyn Arthur told journalists in Moscow on Thursday.

Mr Arthur stressed that crucial economic transformations had taken place in Russia over the past years and that great investment is necessary for more success of these transformations. He pointed out that the City of London can help Russia in this respect. Lord Mayor added that he would like Russian companies to be more active in the City.

Mr Arthur referred to the recent investment by British Petroleum, which amounted to $6.7 billion as a successful example of British investment in Russian economy. According to the Lord Mayor, British business is willing to share experience and to step up co-operation. He said insurance, banking, projects on investment in the infrastructure of Moscow and other cities along with investment in the energy industry were the spheres where the co-operation of Moscow and London was the most successful.

The City of London is a major world business centre. It exceeds Tokyo, Frankfurt and New York in the investment rate. Offices of 469 foreign banks are situated there, shares of 429 companies are sold at the London exchange.