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Moscow-France trade grows 50 percent in two years

Staff Writer |
Sergei Sobyanin met with representatives of the economic council of the Franco-Russian Chamber of Commerce and Industry.

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During a roundtable discussion they focused on investment projects that have been proposed by representatives of the business community.

“We actively work with French companies. We recently signed a new agreement with Renault on incentives in exchange for investment, including production expansion, and creating new modern unique car brands, and also drones,” the Moscow Mayor said.

Mr Sobyanin said that we are also developing cooperation in the pharmaceutical industry.

President of the Franco-Russian Chamber of Commerce and Industry Emmanuel Quidet pointed out the similarities between the Russian and the French markets.

“We are very happy to be here, as France is a significant investor in the Russian market. During the sanctions, from 2014 through 2016, France was first in investing in the Russian market,” he said

Moscow has taken a number of steps to support business. For example, incentives for investors and growing businesses, supporting utility system connections, etc.

“Today it is no more expensive to build a plant in Moscow than in any other advanced region in the country. In addition, taking into consideration that Moscow has the best human resources and a huge market, it is more profitable to develop a business here.

“This is Moscow’s new industrial policy aimed at building plants with a high added value and high paying jobs.

“Over the last two years, 2016-2017, we can see that trade with France has been recovering. It grew 40 percent in 2016 and last year, according to preliminary estimates, it increased another 10 percent,” Sobyanin said.

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