On the 2nd of October 2006 Minister for the Economic Development and Trade of the Russian Federation G.O.Gref held negotiations with the Lower Saxony Land Prime Minister K.Wulff who stayed in Russia on a 6 days working visit as a head of a high delegation of business and financial circles
The main target of the negotiations was discussing prospects of trade and economic relations development between Russian and Lower Saxony Land, including in the sphere of automotive industry, introduction of new technologies of oil and gas production, processing and transportation, exhibition and fair activities and in banking sphere.
During the meeting the parties positively noted progressive nature of bilateral trade and economic cooperation within the whole range of Russian-German relations. In the 1st half of 2006 mutual trade turnover rose by 30,6% and reached USD 19,9 bln. Russian exports increased by 28,6% up to USD 12,3 bln while imports increased by 34,1% up to USD 7,6 bln. Lower Saxony Land is on the sixth place among other German federal lands by trade turnover with Russia.
According to K. Wulff opinion, business climate in Russia has significantly improved and that has to a great extent determined inter-regional relations development between Lower Saxony Land and Russian regions, in particular, Perm and Tumen regions.
G.O.Gref stated that the Ministry for Economic Development and Trade of Russia would continue facilitating in every possible way promotion of German business initiatives that correspond with the economic interests of the Russian Federation.
