Russia Needs To Work On Regional Infrastructure To Boost Investments From UK - Think Tank

Russia should expand and develop its regional infrastructure to build an environment attractive to foreign investors, including those from the United Kingdom, Nicholas Cobb, the chairman of the Westminster Russia Forum, a non-profit think tank promoting cultural, commercial and political relations between Russia and the UK, told Sputnik on Thursday

LONDON (UrduPoint News / Sputnik - 12th December, 2019) Russia should expand and develop its regional infrastructure to build an environment attractive to foreign investors, including those from the United Kingdom, Nicholas Cobb, the chairman of the Westminster Russia Forum, a non-profit think tank promoting cultural, commercial and political relations between Russia and the UK, told Sputnik on Thursday.

"Continue to develop things like free trade zones, investment authorities, regional investment authorities ... There is a whole bunch of practical things that could be done, but it doesn't have to be focused around Moscow or St. Petersburg, there are plenty of other places. I would encourage regional development and regional twinning with chambers of commerce here in the UK and in Russia," Cobb said.

According to the Westminster Russia Forum's head, the pharmaceutical and robotic industries, as well as high technologies, are the most promising areas for cooperation.

Cobb added that the think tank was preparing to host the UK-Russian business forum next year in Moscow, similar to an event held annually in London.

"We will be launching a similar event in Moscow as opposed to the one we have here. The Westminster Russia Forum is expanding into Russia and we now have an office there. It is a small but important step forward," the chairman said.

Russia and the United Kingdom fell out in last year after London accused Moscow of having been involved in the attempted murder of former double agent Sergei Skripal and his daughter Yulia in the city of Salisbury. Russia has refuted the accusations as unsubstantiated and demanded cooperation in the investigation into the incident. London has rejected the offers for cooperation and has since been pushing for tougher sanctions against Russia.