German Businessmen May Increase Investment In Russian Economy

Germany may increase investment in Russia's economy, provided Russia's economic reform entails a more favorable investment climate. Andrea von Knoop heading the German representation in Russia said as much at a Friday press conference in Moscow, highlighting the forthcoming Moscow-Invest-2001 international investment forum due in Berlin on October 10-13. According to Andrea von Knoop, there are currently sufficient prerequisites for a favorable investment climate in Russia. They have emerged due to drastic structural economic reforms implemented under Russian president Vladimir Putin. According to the German representative, the recent official visit by Vladimir Putin to Germany gave an important impetus to the bilateral relations, including in the economic area, too. Andrea von Knoop remarked that German investment in Russia's economy totaled 6,085 million US dollars as of June 30, 2001. Germany's accumulated direct investment was estimated at 1,439 million US dollars at the same period.