During their meeting, the officials discussed current energy cooperation between Russia and Germany as well as promising areas for expanding cooperation.
Alexander Novak’s meeting with Minister-President of Saxony Michael Kretschmer
Deputy Prime Minister of Russia Alexander Novak met with Minister-President of Saxony (Germany) Michael Kretschmer.
During the meeting, Alexander Novak and Michael Kretschmer exchanged views on current and prospective energy cooperation between Russian regions and Saxony.
“Right now it is important to preserve and promote a positive agenda, including our trade, economic, cultural, scientific and educational ties as well as contacts at the interregional and municipal levels. Active cooperation continues between businesses: 4,500 German companies with a total assets turnover of more than $50 billion are operating in Russia, and Germany remains a major foreign trading partner of ours. Germany’s share in Russia’s 2020 foreign trade held steady at 7.4 percent,” the Deputy Prime Minister said.
At the same time, according to Alexander Novak, Germany remains Russia’s leading investment partner: as of the end of last year’s third quarter, the accumulated German investment totalled almost $17 billion, and the accumulated Russian investment in Germany stood at $8.1 billion.
“We maintain close ties in energy; we are connected by several oil and gas pipelines. We remain open for dialogue based on equality and mutual respect with all the key political forces in Germany aimed at promoting a constructive agenda in their relations with Russia,” Alexander Novak noted.
In addition, the parties touched on promising aspects of expanding cooperation in sustainable energy, energy supplies and hydrogen energy.
