Brexit to Provide New Opportunities for UK, Russian Businesses, RBCC Executive Chairman Says

MOSCOW (Sputnik) - The eventual completion of the Brexit process, which looks set to end on 31 December with the conclusion of an 11-month transition period, will provide opportunities for UK businesses on the Russian market and vice versa, Alf Torrents, the executive chairman of the Russo-British Chamber of Commerce, told Sputnik in an interview. "We definitely see it as an opportunity. The official government line is encouraging businesses to look for new markets outside of the traditional EU ones and the line we're taking is that it makes sense to look at Russia as it's got many things going for it as a new market so to speak", the RBCC executive chairman stated. In the year to March 2020, trade turnover between Russia and the UK stood at 15.8 billion pounds ($20.7 billion), comprising 9.9 billion pounds ($13.1 billion) in Russian exports to the UK and 5.8 billion ($7.6 billion) pounds in UK exports to Russia. Trade turnover could subsequently rise in the post-Brexit era, given that Russian businesses view the UK as a prominent destination market, Torrents said. "Conversely, the Russians see it as a natural destination market if and when the UK drops out of the EU," the RBCC executive chairman said. Read more: https://sputniknews.com/business/202011101081112406-brexit-to-provide-new-opportunities-for-uk-russian-businesses-rbcc-executive-chairman-says/