German industry is keeping its doors open to Russia. Only Merkel slams, - Bloomberg
Berlin - Kyiv, November 26 (PolitNavigator, Vasily Ablyazimov) - The Russian delegation led by Minister of Economy Alexey Ulyukaev met yesterday in Stuttgart with representatives of Daimler AG and Robert Bosch GmbH, two of the largest German concerns. Bloomberg writes, that German industrialists “keep the doors open for Russia,” despite the fact that German Chancellor Angela Merkel is about to slam them shut for a long time.
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Daimler not only sells products to Russia, it also owns 15 percent of the production of Kamaz, the leader in the truck market, and participates in other industries in the country. Bosch employs about 3000 people in Russia, selling products worth 700 million euros per year. The German company will spend about 50 million euros until 2016 on a new plant in Samara, which is scheduled to go into production next year.
Some 6200 German companies do business with Russia, while the Committee for European Economic Relations with Eastern European Countries in Berlin estimates that 350000 German jobs depend on economic trade with the former Soviet Union. The sanctions hit not only the Russian economy.
“Neither company has completely abandoned the Russian market,” says Rainer Lindner, a businessman and expert, writes Bloomberg. “They may have reduced business, delayed projects... But we still have hope for this market in the future.”
Despite the desire of German industrialists to work with Russia, Angela Merkel does not plan to ease sanctions; moreover, she recently stated that economic association with the United States must be carried out at an accelerated pace. Experts assess the signing of the economic association between the EU and the US as a direct threat to German industry.
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