Petr Aven, Alfa-Bank President, and Top business leaders from Russian and multinational corporations met in London in July 26 to review challenges to investment in Russia and to explore how responsible business practices can contribute to the country’s economic and social development.

Executives from Alfa-Bank, Interros, Russian Railways, UralSib, VISA International, Nestle, Burson-Marsteller, Shell and KPMG, among others, attended the Russian Business Summit, hosted by IBLF’s Russia Partnership for Responsible Business Practices, to share expertise on how companies in Russia can build their reputation internationally by insisting on transparency, good corporate governance and responsible business behaviour.

The summit concluded with a summary of the day’s discussions with the HRH The Prince of Wales at Clarence House.

Participants agreed that while there had been huge improvements in business standards in Russia over the last five years more had to be done to ensure that the current favourable investment climate in Russia be sustained.

The Russia Partnership for Responsible Business Practices was established by IBLF in 2004. Working closely with the senior management of its member companies, the Russia Partnership helps put in practice corporate strategies directed at the growth of the company, industry and society as a whole.