The Russian Venture Capital Association (RVCA), which unites some 70 Russian investment funds, and U.K. BVCA have signed a memorandum of understanding to renew bilateral investment flows, RVCA Chairman Alla Pianova said on Wednesday.
"We have a lot to learn … to have the same weight as the BVCA has. Now we should be open for cooperation ... as we are working in new conditions of more economical pragmatism," Pianova told RIA Novosti.
The memorandum also stipulates the exchange of experience and technologies and help in lobbying each other's interests.
BVCA Chief Executive Mark Florman said Prime Minister David Cameron supported the memorandum signing, adding that the British association could help to evaluate the Russian investment market and support further implementation of a project initiated by Russian President Dmitry Medvedev in 2008 to create an international financial center in Moscow.
