Your Excellency Ambassador Yakovenko,

Distinguished Guests,

Ladies and Gentlemen,

I am very pleased to open this international conference on trade and investment between these two
great countries, the United Kingdom and the Russian Federation. This is the third such annual event
and it has been advancing and improving since its inception.

It is particularly encouraging to see that trade, investment and overall business between the two
countries is sustained and growing. The business community for the last 20 years has been
embracing and capitalising on opportunities between the two countries. From commodity traders,
energy, mining, industrial companies and an entire eco-system of smaller and medium size
businesses through to cultural organisations and indeed governments, we have come to understand
that there is great potential to be harnessed when the two countries co-operate.

Several such events do support this co-operation. Every year the St Petersburg International Forum
brings together businesses and government from around the world to meet, exchange views and
either plan joint initiatives or formally agree them. The UK-Russia Trade and Investment Forum play
a catalytic role towards showcasing the opportunities between the two countries and support
business creation. Last year over 200 businesses alongside 20 Government Officials and diplomats
were brought together and we saw the establishment of scientific co-operation between several
entities. Culture was also promoted and we are seeing an increased appetite between talented
artists from the Russian Federation coming to the UK to study and improve their skills. Business trips
and trade missions have been organised in the aftermath of the 2016 event.

The objectives of this years event is to maintain this build-up of business co-operation and support
organisations from both countries meet their growth expectations and ambition. We have had of
course several challenges and indeed these have always been there- that often stand in the way of
businesses and often individuals. They tend to be limited to the political/governmental environment,
yet we have also witnessed unique resilience on both sides in preserving a working framework and
structures that can sustain business activity.

We know today, that in this globalised world, it is international co-operation that can boost growth
and allow businesses and individuals to thrive. Two countries from the top-8 world economies are
being brought together today, here in the Capital of the United Kingdom. This event is aiming to
bring people from all sectors together, to share their experiences and promote their plans, hear
their success stories and receive some inspiration. Such success is the product of sustained and
systematic efforts, in many cases supported by political peers from both sides. It is also an
information awareness event, aiming towards placing facts and figures in perspective and
crystallising and showcasing real operational conditions, the legal and regulatory framework of
business between the two countries and an overview of what lies ahead.

We know now, that despite challenges businesses, the investment community, individuals, and
even charitable organisations can benefit and thrive should they be well-informed, supported and
guided. I very much hope that we can isolate whatever differences exist and focus on business
creation and growth. I would like to encourage all stakeholders involved in trade, investment and
business operations between the two countries to come together, work together and help contain
and manage the existing challenges and pave the way for a much better relationship. I am very
pleased with the participation of everyone here today and I very much look forward for a successful
event and for some great outcomes.

Thank you!