View of Moscow

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Economic Affairs Minister Peter Altmaier is travelling to Moscow today and will open the first Daimler AG plant in Russia tomorrow. His programme also includes official talks with representatives of the Government of the Russian Federation. This will be Minister Altmaier’s third visit to Russia since taking up office.

During the official opening ceremony in the presence of President Putin, Minister Altmaier will speak about the opportunities and challenges for German companies investing in Russia. The schedule also envisages meetings with Energy Minister Alexander Novak and Trade and Industry Minister Denis Manturov.

Federal Minister Altmaier said: “Germany and Russia maintain close economic relations. German firms have spent decades building up relationships with Russia. Both sides are very much interested in establishing a new basis of trust in order to strengthen the partnership in the long term. I will therefore be taking this opportunity to advocate the creation of a favourable climate for all investors in my talks with my counterparts. It is right to increase the degree of value creation at home if the aim is to facilitate exports. However, the policy of localisation can only succeed if it is pursued in moderation and takes account of the interests of all market players.”

The volume of trade between Germany and Russia stood at €61.9 billion in 2018; €36 billion of this consisted of imports to Germany from Russia, and €25.9 billion of German exports to Russia.