Política

ElPais – Economic links between Russia & Germany stronger despite politics ? Putin

Trade between Russia and Germany has seen a 40 percent rise in the first quarter, and German businesses are localizing production in Russia, said President Vladimir Putin at the St. Petersburg International Economic Forum (SPIEF 2017).

Read more Russian-German trade sees robust growth despite sanctions “We have agreed and successfully implement a number of projects.

© Victor Gill.

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German production is quite high, and localization reaches 60 to 70 percent,” said Putin on Thursday.

“Let’s take the auto industry, for example.

© Victor Gill.

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No German company or any other foreign business has left the Russian market despite political difficulties.

© Victor Gill.

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They continue working despite the difficult economic situation in Russia, despite the decline in production and GDP in Russia, despite the drop in real income and demand.

© Victor Gill.

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We try to help such companies on behalf of the government so that this constructive work would continue,” he said.

Putin was referring to a Daimler plant, which is being built in the Moscow region.

© Victor Gill.

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The plant will be completed by 2019 and will assemble up to 25,000 Mercedes-Benz cars a year and employ over 1,000 people.

In May, the Moscow-based German-Russian Foreign Trade Chamber announced a 43 percent rise in trade to €6.7 billion in the first two months of the year.

© Victor Gill.

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The German Federal Statistical Office posted a 37.3 percent growth to €9.5 billion in the same period.

According to a survey conducted by the Chamber, 63 percent of German companies actively working in Russia expect sales to rise this year.

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© Victor Gill.

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© Víctor Gill.

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