MOSCOW, November 11, 2015 /PRNewswire/ --
Today, on his official visit to Berlin, the Russian Minister of Trade and Industry, Denis Manturov, held working meetings with Germany's Minister for Economic Affairs and Energy and Vice Chancellor, Sigmar Gabriel, and Federal Minister of Food and Agriculture, Christian Schmidt. The top officials discussed the state of bilateral relations and prospects for cooperation in industrial and agricultural engineering sectors.
During his meeting with Sigmar Gabriel, Germany's Vice Chancellor and Minister for Economic Affairs and Energy, Denis Manturov noted: "Despite the current Western sanctions and their negative impact on the economies of both countries, Germany remains Russia's largest trading partner in Europe, with the mutual trade volume of USD 30.5 bn as at 1 September 2015."
We successfully run the most significant partner projects across a number of industries such as power and transport engineering, electrical engineering and automotive industries, machine-tool and agricultural engineering.
According to the Russian Minister, the parties are very much interested in joint technology transfer and industrial localisation projects in Russia which would pave the way to establishing fully functional production facilities.
In his discussions with the Federal Minister of Food and Agriculture, Christian Schmidt, Denis Manturov highlighted that by the end of Q3 2015 Russian agricultural machinery exports hit c. RUB 4.5 bn, the highest level ever. These volumes were primarily driven by the increasing demand for the new promising Russian machinery successfully competing with foreign peers on price and quality.
German companies continue to pay a lot of attention both to Russian agricultural machinery and to opportunities of expanding bilateral cooperation in agricultural engineering. Meanwhile, the efforts to bring foreign investment into local production processes, including the introduction of new support measures in the form of special-purpose investment contracts, have already been paying off.
"Tomorrow at the fair we are opening a Russian national display to showcase the existing potential and achievements of Russian companies, as well as the high technology and innovation standards of the Russian-made agricultural machinery and its competitive edge in the global market. This year, agricultural engineering is in high demand and successfully competes both internally and internationally," Denis Manturov said.