Lord Mayor visits Russia
Lord Mayor visited St Petersburg
The Lord Mayor of the City of London, Alderman Ian Luder, visited St Petersburg on 9-13 September as part of his trip to Russia. His main aim was to further strengthen business and economic links with the UK, discuss finance, banking, and PPP.
Lord Mayor led a 15-strong business delegation which included representatives from all the major financials services sectors represented in London: banking, legal services, accountancy and insurance. Prior to St Petersburg the delegation was in Moscow 6-9 September.
Whilst in St Petersburg, the Lord Mayor, who also acts as the global ambassador for UK-based financial services, was hosted by Yuri Molchanov, Vice-Governor responsible for Transport, Infrastructure and Investment. At the meeting they discussed the issues involved in raising finance for infrastructure and transport projects. The Lord Mayor attended seminars organised by the City Government on Transport and use of Public Private Partnerships (PPP) in Infrastructure Projects. He also met the Governor of Leningrad Oblast, Valery Serdyukov and senior representatives of major Russian and international businesses based in the oblast.
The two-day business programme also included a round table discussion on 'Building a Low Carbon Recovery', emphasising the importance of sustainable economic policies to tackle climate change, including carbon trading, moderated by the International Finance Corporation (World Bank Group) and hosted by Vodokanal St Petersburg; the London Stock Exchange Roadshow on Investment Opportunities for Northwest Russia, at which the Lord Mayor gave a keynote speech; a meeting with representatives of the local banking sector; and visits to the three British retail banks active in St Petersburg - RBS, HSBC and Barclays.
Bilateral trade with Russia has been growing steadily in recent years. The UK is the largest cumulative investor in Russia, and in 2008 was the largest investor in St Petersburg. 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 our strong business links
I am delighted to be here in St Petersburg, which has such a diverse economy with such potential. Local business already has strong links with the City of London, which we are hoping to develop further. And the City of London is also strongly supportive of the St Petersburg City Administration's exciting and innovative PPP projects to help develop infrastructure.
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."
Listen to the Press Conference with Lord Mayor
Lord Mayor's speech in MICEX
We welcome co-operation with Russia in discussing and implementing financial sector reforms, and one of the objectives of my trip here is to discuss with the Russian government and businesses how they have approached the challenge of the economic crisis. More ...
Press Conference with Lord Mayor
"We welcome Moscow becoming a financial centre and consider Moscow not as a competitor but as a partner",- Ian Luder at press conference in RIA Novosti.
Lord Mayor Visit to 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.
Prior to his visit to Russia, the Lord Mayor will have spent four days visiting Ukraine. He returns to the UK on Sunday 13 September.
Lord Mayor will hold a press conference on Monday September 7 at 18.00 at RIA Novosti newsagency.
Address: Zoubovsky blvd 4, 6th floor, Conference Room 3.
To accredit, please contact Novosti agency at +7 495 637 5019, +7 495 645 6472, +7 495 645 6524:
NOTES TO EDITORS
PRESS ENQUIRIES:
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, Maria Kroupnik, Press Office, British Embassy Moscow
T :+7 495 956 72 11/:+7 495 956 72 81
Email: elena.berdnikova@fco.gov.uk; maria.kroupnik@fco.gov.uk.
Elena Mishkiniuk, Press Office, General Consulate in St Petersburg
Email: elena.mishkiniuk@fco.gov.uk
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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Alderman Ian Luder, Rt Hon The Lord Mayor of the City of London