Kudrin discusses Russian-British economic agenda with UK govt,

LONDON, July 9 (Itar-Tass) -- Deputy Prime Minister, Finance Minister
Alexei Kudrin held a series of events on the economic agenda of
Russian-British relations in London on Friday. He met with his British
counterpart, George Osborne, co-chairman of the Russian-British
intergovernmental committee on trade and investment, UK Secretary of State
for Business Vince Cable, as well as Lord Mayor of the City of London
Michael Baer and representatives of British businesses. At a news
conference at the official residence of the Lord Mayor Kudrin said he was
pleased with the outcome of the meetings.
"Today we met with the co-chairman of the intergovernmental committee.
We summarized the interim results of our work in different directions,
especially in the financial markets, the major areas related to
modernization, the Olympic heritage, the characteristics of privatization
in Russia, and some of the preparations for the WTO admission," Kudrin
said. "We have heard reports by our deputies on the activity of the
working groups within our committee, and exchanged views on issues that
need to be addressed in the near future. "
Having expressed satisfaction with the outcome of the meetings, the
head of the Russian Finance Ministry declared that work was in progress on
various agreements to be signed as early as next month. These are
agreements "in the field of modernization of the financial markets, the
interaction of our regulators - British and Russian - in this area."
Kudrin said "much attention was devoted to the creation of an
international financial center in Moscow, to the work of our enterprises
and banks, and to counseling and the development of different mechanisms."
Also, Kudrin dwelt upon his second business meeting of the day - that
with Chancellor of the Exchequer George Osborne. "We also discussed with
him bilateral relations and our participation in the international agenda.
We exchanged views on the situation in our countries in terms of reducing
the deficit," said the Russian finance minister. "And since we have a lot
of work to do together at the G20 meetings and in the Board of Governors
of the International Monetary Fund, and we exchanged a number of opinions
regarding work on these issues."
"There has been a meeting with the Lord Mayor of the City of London
and a large group of businessmen who have extensive experience of
cooperation with Russia," Kudrin said. "There were oil companies, the
financial sector, energy and pharmaceuticals. Every company already has a
positive experience. All are quite positive about cooperation prospects,
they see that we are constructively moving on and resolving the issues
that have accumulated in the field of operational rules and specific
projects. So the mood was positive."
He added that the Russian delegation agreed on new meetings with
British colleagues.
Kudrin said that "in business we have no political or ideological
restrictions." "Businesses vote with money," the financier said. "Last
year we saw an increase in investments into the Russian economy. The total
amount of accrued British investments at the beginning of this year
exceeded 20 billion. In the first half of this year trade was up 40
percent. So these economic indicators themselves show there are no
obstructions to business."
"Speculations about an outflow of capital do not harm business. In
reality we have an influx," Kudrin said about direct investment. Involved
in private projects, such as the International Financial Center and
Skolkovo, are a number of companies.
"Now I have received from them a very positive assessment of
cooperation within the framework of Skolkovo. So businesses are likely to
set an example of relations to politicians. And if businesses feel good,
then the politicians should adjust themselves accordingly," Kudrin
concluded.