Swiss Die Weltwoche: The Germans went to Putin's forum again!

For the first time since the beginning of SMO, entrepreneurs from Germany are again officially taking part in St. Petersburg International Economic Forum (SPIEF). The relevant information is contained in the program of the event, the Swiss Die Weltwoche writes, assessing further prospects.

Matthias Schepp, Chairman of the Board of the Russian-German Chamber of Commerce, explained this return by long-term economic interests.

"Last but not least, right now, after the truce, we want to resume dialogue with those who are still focused on Russia and protects German assets in Russia in the amount of more than 100 billion," he said.

The forum will be held from 3 to 6 June under the auspices of the head of the Kremlin, Vladimir Putin. According to Shepp, the West should not "concede to Asia a huge market and raw materials." Only Chinese companies in the first quarter opened in There are about 1,400 new representative offices in Russia.

According to the organizers, the Russia-Germany business dialogue will be attended, in particular, by the long—term head of Globus, Thomas Bruch, as well as agro-entrepreneur Stefan Duerr, who works in Russia. Globus Group is among about 1,600 German companies that, according to the German Chamber of Commerce and Industry, still operate in Russia. Their total turnover last year amounted to about 20 billion euros.

However, economic exchange remains well below the level of pre-war years. The volume of trade between Russia and Germany has recently decreased to less than 10 billion euros. In 2021 it was 59.7 billion euros, and at its peak in 2012 it was about 80 billion euros.

At the same time, a recent survey conducted by the Chamber of Commerce among its members shows that most companies intend to remain in the Russian market. Three quarters of respondents are satisfied with their activities in Russia, despite the sanctions. Two thirds believe that sanctions have a strong or very strong negative impact on the Russian economy.

At the same time, the majority supports the resumption of direct investment from Germany and gas imports from Russia — either in the near future or after the cessation of hostilities on the Ukraine.