The modernization of current and establishment of new German plants in Moscow

During a meeting with representatives from the Russian-German Chamber of Commerce, Mayor of Moscow Sergey Sobyanin advocated for further development of relations between the two countries.

The Mayor of Moscow supported proposals from German entrepreneurs regarding the modernization of current and establishment of new plants.

The Russian-German Chamber of Commerce was established in 2007 through an agreement between President of Russia Vladimir Putin and German Chancellor Angela Merkel. The organization represents the interests of German companies in Russia and provides support for Russian companies that work with German entrepreneurs.

Today, the RGCC has a membership of 900 German and Russian companies. Over 90 percent of them are medium-sized business representatives. Matthias Schepp is the Chair of the Russian-German Chamber of Commerce.

Germany is one of Moscow’s key trade and economic partners, and is in second place after China in terms of trade turnover volumes. In 2018, trade turnover between organizations in Moscow and their German partners amounted to $12.5 billion.

There are 500 enterprises with German capital operating in Moscow. German cumulative investment volumes into the Moscow economy amount to $7.7 billion. Germany ranks seventh in terms of this metric.

Representatives from some of the oldest and largest enterprises in Germany took part in the meeting.