PM talks up energy trade links on Moscow visit

The Prime Minister has talked up the energy trade links between Britain and Russia on a visit to Moscow. One agreement could spell £1billion worth of business for the nuclear […]

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By Vicky Ellis

The Prime Minister has talked up the energy trade links between Britain and Russia on a visit to Moscow. One agreement could spell £1billion worth of business for the nuclear industry.

In a speech this morning at Moscow State University, Mr Cameron accepted that the two powers have had a “difficult relationship” for some time but added: “I want to make the case for a new approach based on co-operation.”

David Cameron was joined by Foreign Secretary William Hague and Trade and Investment Minister Lord Green alongside 24 British business leaders from companies such as BP and Rolls Royce on the one-day trip.

Mr Cameron said: “Today we are signing new deals worth £215 million, including Kingfisher opening 9 new stores over the next 3 years and an important collaboration between Rolls Royce and Rosatom on civil nuclear co-operation.”

The deal on the table with Rosatom, Russia’s State Energy Corporation, could open the way for British companies to bid for work on civil nuclear energy contracts. This potential business could be worth upwards of £1 billion.

Six hundred British companies already operate in Russia and UK goods exports to the country are already worth £3.5 billion.