LONDON, April 24: Britain called on Tuesday for “clear rules and openness” with Russia to help foster burgeoning trade and investment between the countries while expressing concerns over the threat of economic nationalism.
Trade minister Alistair Darling made the remarks at the annual Russian Economic Forum, a showcase for Russian enterprise that Russian officials and business chiefs have boycotted this year amid growing political tensions.
“Open and liberalised markets are in both our and Russia's business interests,” said Darling, who recalled that Britain was the largest foreign investor in Russia last year. “We are committed to breaking down trade barriers,” he added.
“Around the world we are seeing an increasing trend towards protectionism, putting up barriers to trade that will make us poorer. We are seeing the growth of economic nationalism. It won't work,” he warned.
During a visit to Moscow in February, Confederation of British Industry head Richard Lambert had said he hoped Russia would “resist the temptation of opting for any perceived short-term gains from economic nationalism.” Darling strongly backed Russia's entry into the WTO.
“The WTO talks are now reaching a crucial stage. We will do everything we can to ensure they succeed,” Darling said.
