Russian & German Businesses Have a Jump-Start

Russian President Dmitry Medvedev and German Chancellor Angela Merkel visited Ekaterinburg on July 14, 2010 for a two-day summit that devoted special attention to strengthening the business relationship between the two countries.

The Siemens corporation was one of the key players in the process. Siemens is going to partner with the Rostekhnologiya corporation in a joint venture to produce hydroelectric power plants and also plans to supply the public corporation Rossiiskie Zheleznye Dorogi (Russian Railways) with over 200 commuter trains worth 2.2 billion euros. In addition, Siemens is ready to help build Skolkovo, the Russian science town.

Representatives of Volkswagen, Airbus, E-On, BASF, and Metro were a part of the German delegation. The last two companies are well known in Ekaterinburg - BASF is an active participant in the Energy-Efficient City and Metro operates two stores in town. 

In January - April  2010 total trade between Russian and Germany increased by 50%, amounting to $15.2 million, and the total German investment in the Russian economy has been calculated to be more than $20.2 billion.