Russian and German businesses await a jump-start in Ekaterinburg’s development

14.07.2010 — News

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

RusBusinessNews has learned that at the end of the high-level consultations, more than ten different documents are expected to be signed. The Siemens corporation will be 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 Skolkov, the Russian science town.

Representatives of Volkswagen, Airbus, E-On, BASF, and Metro are part of the German delegation that will visit Ekaterinburg from July 14-15. 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.

According to Sergey Prikhodko, an aide to the Russian president, between January and April of 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.