Germany and Russia sign most important declaration since 2014

The German and Russian Ministers of Economy, Peter Altmaier and Maksim Orieszkin, will sign a Letter of Intent on the economic and technological cooperation on Friday. This is the most important declaration at the governmental level since the outbreak of the war in Ukraine in 2014.

The aim of the initiative is to enable German companies to "put their feet" on the Russian economy despite the EU sanctions in force, DPA agency wrote, citing an interview with the head of the German-Russian Chamber of Commerce Matthias Schepp.

"The efficiency of the Russian economy is half lower than that of Germany. Thanks to the new partnership, German technologies can help improve Russian productivity," Schepp said.

(PAP)