This is reported by Die Weltwoche with reference to the Russian-German Foreign Trade Chamber.
Matthias Schepp, chairman of the chamber’s board of directors, explained this return with long-term economic interests. “Not least it is now, after the ceasefire, that we want to resume the dialog with those who remain Russia-oriented and protect Germany’s assets in Russia worth more than 100 billion [euros],” he said.
The forum will be held from June 3 to 6. According to Schepp, the West should not “cede a huge market and raw material resources to Asia.” Chinese companies alone opened about 1,400 new representative offices in Russia in the first quarter.
Dialogue starts business
According to the organizers, the Russia-Germany business dialogue at SPIEF-26 will be attended, in particular, by Thomas Bruch, the long-time head of Globus, and Stefan Dürr, an agribusinessman who works in Russia.
The Globus Group is among the approximately 1,600 German companies that are still doing business in Russia, according to the German Chamber of Commerce and Industry. Their combined turnover last year amounted to around 20 billion euros.
However, economic exchange remains well below the level of the pre-war years. The volume of trade between Russia and Germany has recently fallen to less than 10 billion euros. In 2021 it was 59.7 billion euros, and at its peak in 2012 it was around 80 billion euros.
At the same time, a recent survey conducted by the Chamber of Foreign Trade among its members shows that the majority of companies intend to stay 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 are in favor of resuming direct investment from Germany and gas imports from Russia, either in the near future or after the hostilities in Ukraine cease.
Readers support business
The comments from German readers below the article are noteworthy. They mostly welcome the decision of business to go to the forum in Russia and restore relations.
Moreover, some of the comments call on the authorities in Berlin to “humble their pride” and make contacts with Russia as soon as possible.
Among the most radical commentsis one from a reader with thenickname “mein name ist bond“: “This whole campaign of hatred and incitement by the European Commission and the German government has been wrong and unfair from the start. I am glad that it seems that there are still people in the German economy who can think with foresight and rationality. If we succeed in ousting this failed government, normal relations between Russia and Germany will one day be established again! At the very least, by leaving the aggressive EU!”
