The German Ambassador To Russia Stands For Increasing German Investments In Russia

The attraction of German investments into Russia is one of the priorities in the development of bilateral economic cooperation, stated German Ambassador to Russia Ernst-Jorg von Studnitz at a news conference on Thursday. At the present time work on implementing twenty big investment projects on the Russian market is going on, said the ambassador. This package of twenty projects is estimated at 8.5 billion German marks. In his opinion, the equipment for the fuel and energy complex is the most attractive sphere for foreign investments into the Russian economy. "The application of the economic policy's principles, which Russian President Vladimir Putin was speaking about, is useful and necessary for creating a favourable investment climate," said Ernst-Jorg von Studnitz. In the past ten years, the German investments into the Russian economy amounted to 6.5 billion marks. On the one hand, this is a considerable sum, but in comparison with the size of the German investments into the East European countries, this sum is small, stated the German ambassador.