St Petersburg International Economic Forum

Lord Stevenson of Balmacara Excerpts

Monday 30th April 2018 Lords Chamber

[Baroness Fairhead]

In terms of our stance on Russia, and in response to actions in Syria and Ukraine and the Salisbury attack, we are trying to show that this matter is a real threat to a rules-based international order. We are trying to send a clear message that those actions are unacceptable and illegal and to give a calibrated response that shows how unhappy we are with them, while continuing to engage in other areas and support businesses that take part in sanctions-compliant activity. We think that is the right way to do it.

[Lord Stevenson of Balmacara (Lab)]

My Lords, I want to offer the Minister some help. Perhaps she should just argue that the cost of going will be too high. After all, a place at the St Petersburg International Economic Forum will cost $8,600. I have looked through the 36 pages of the business programme, seven pages of the sporting programme and 78 pages of the cultural programme; it is quite a feast of pleasure, I must say. If she is interested in culture and so on, I would have thought there was a case for doing that.

More seriously, reading deep into the programme, why are we not sending people to the following sessions, which seem very important: “A Recent History of Blockchain”, which has apparently caused a sensation in Russia and for which expert advice is available, and “Exporting Trust: Building Safe Global Digital Infrastructure”, which is about what Russia can offer? Do these really not attract Dr Fox?

[Baroness Fairhead]

I thank the noble Lord for his advice and help. SPIEF is a major event—143 companies attended last year—so he is right: the programme is very full. I am happy to say that almost all major UK companies will be present, as will our DIT staff and ambassador, as I said. It is one of a number of our interactions because engagement has to continue. We have put this guidance in place at a bilateral ministerial level. Our policy is very clear: engage, but beware. That is the right calibrated, nuanced approach. We are supporting companies in their engagement and we absolutely believe in supporting the digital economy, because that is where the heart of our new technology will reach global markets.