institute of europe
the institute of europe of the russian academy of sciences
Centenary of UK-Russian trade relations
- 16 March 2021
On 16 March, 2021, Elena Ananieva, Head of IE RAS Centre for British studies, took part in the online conference, organized by the Embassy and Trade delegation of Russia in the UK on the occasion of the Centenary of UK-Russian trade relations.
This year marks the centenary of the first Russian-British trade agreement.
This event brought together representatives of governments and business community. Mr. B. Abramov, Head of the Trade Representation of Russia in the UK, opened the conference. The Welcome speech was from His Royal Highness Prince Michael of Kent GCVO, RBCC Patron.
There were very informative addresses from Mr. Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation; HE Ambassador Andrei Kelin; HM Ambassador Deborah Bronnert CMG; Mr. Sergei Katyrin, President of the Russian Chamber of Commerce and Industry; Mr. Roger Munnings CBE, Chairman of the Board of RBCC.
There were very informative addresses from Mr. Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation; HE Ambassador Andrei Kelin; HM Ambassador Deborah Bronnert CMG; Mr. Sergei Katyrin, President of the Russian Chamber of Commerce and Industry; Mr. Roger Munnings CBE, Chairman of the Board of RBCC.
According to UKTradeInfo, trade turnover between Russia and the UK in three quarters of 2020 reached $19 bln. Demand for precious metals, in particular for gold from central banks and investors, increased sharply during the year, which led to a doubling of Russian exports. At the same time, some commodity groups, including FMCG, showed stagnation or decline in trade volumes.
UK imports into Russia also declined during the year by an average of 10-15% in various commodity groups. Meanwhile, over the three quarters of 2020, total British foreign trade with the world as a whole fell by 14%, compared to the same period in 2019.
Russia now ranks 4th in exports to the UK after the European Union, USA and China. Among Russia's non-CIS trading partners, the UK now also ranks 4th.
UK imports into Russia also declined during the year by an average of 10-15% in various commodity groups. Meanwhile, over the three quarters of 2020, total British foreign trade with the world as a whole fell by 14%, compared to the same period in 2019.
Russia now ranks 4th in exports to the UK after the European Union, USA and China. Among Russia's non-CIS trading partners, the UK now also ranks 4th.
Ambassador Andrei Kelin's address at the online conference «Centenary of the Russian-British trade relations», 16 March 2021 (rusemb.org.uk)
Programm.