ER Editor: We also recommend this piece from RT in February titled Nothing stopping Russian-German trade turnover’s rapid growth:
Trade turnover between Russia and its second largest trade partner, Germany, increased 8.4 percent and reached nearly €62 billion ($70 billion) in 2018 compared to previous year, according to the German trade lobby.
Year-on-year imports from Russia to Germany expanded 14.7 percent, amounting to €36 billion ($40 billion). Export to Russia rose by 0.6 percent to €25.9 billion ($29 billion), the German-Russian Chamber of Commerce, which represents over 800 German firms, reported on Monday citing the Federal Statistical Office.
This is despite sanctions against Moscow and threats from the US to penalize German companies involved in the Russia-led Nord Stream 2 pipeline project.
“German business has successfully increased exports to Russia despite the market difficulties, sanctions and counter-sanctions. This has also improved our expectations for 2019,” the chairman of the German-Russian Chamber of Commerce, Matthias Schepp, said in a statement.
One hopes this can go some way to salvaging Germany’s (and thus EU’s) failing economy. In this regard we recommend Tom Luongo’s recent piece titled Germany: A Dead Economy Walking.
German-Russian Chamber Of Commerce Opens New 4.5M Euro Moscow Headquarters
Largest foreign trade association in Russia holds fast to the Russian market
AHK Russia invests 4.5 million euros in new headquarters. [AHK is for Auslandshandelskammer, “Chamber of Foreign Trade” –tr]
The German-Russian Chamber of Foreign Trade is opening its new office, in which it has invested a total of 4.5 million euros in purchase and interior design.
“Especially in politically difficult times, we are sending a signal that the German economy is holding fast to the Russian market and has confidence in its potential,” says Matthias Schepp, Chairman of the Executive Board of AHK.
According to the German Bundesbank, net direct investment by German companies in Russia last year amounted to 3.2 billion euros – the highest level since the global financial crisis ten years ago. German-Russian trade also rose by 8.4 percent in 2018 to 61.9 billion euros.
The AHK, with 900 members making it the largest foreign trade association in Russia, moved to the 17th floor of the award-winning Filigrad business center, designed by the star architect Sergei Choban at the turn of the year. It is located directly on the Moscow River close to the financial center Moscow City and to the seat of government.
The two co-chairmen of the Strategic Working Group on Business and Finance (SAG) of the German and Russian Governments, who will meet in Moscow the following day, are expected to be honored guests.
The co-chairs are Ulrich Nußbaum, State Secretary of the Federal Ministry of Economics and Energy (BMWi) and Aser Talybov, Deputy Russian Minister of Economic Affairs. Also Alexei Mordashov, Vice-President of the German-Russian Chamber of Foreign Trade (AHK) and CEO of the Sewerstal Group, and Rüdiger von Fritsch, Ambassador of the Federal Republic of Germany to the Russian Federation will be in attendance.
The Fili district, where Filigrad is located, is part of Bolshoi City, a focal point of the new urban development concept of the Moscow City Government. On the other side of Moscow City, the dilapidated Soviet-era business park is rapidly becoming a neat residential area with numerous offices and an elegant waterfront.