2005-02-09 17:22 * RUSSIA * GERMANY * HANNOVER FAIR *

RUSSIA TO BE PARTNER COUNTRY AT HANNOVER FAIR-2005

MOSCOW, February 7, 2005 (RIA Novosti) --

The presentation of the Russian economy at the Hannover Fair-2005, to be held on April 10-15 this year, will be an obvious expression of increased economic relations, especially in the past few years, between Germany and Russia, stressed Klaus Mangold, chairman of the Eastern Committee of Germany's Economy, at a joint press conference with Sepp Hekmann, chairman of the Deutsche Messe AG board, in Moscow.

The presentation of Russia as a partner country in the Hannover Fair will help, according to the Eastern Committee, to achieve four goals: the Russian Federation will show itself as a country of modern technologies, new areas for cooperation will open, cooperation between Germany and Russia will intensify, and an excellent venue is offered for direct contacts and talks between German and Russian businessmen.

The Eastern Committee together with the Hannover Fair and the Russian Government will open the fair with the "Day of the Russian Economy". Taking part in it will be President of Russia Vladimir Putin and Federal Chancellor of Germany Gerhard Schroeder. High-ranking politicians and economists will provide information about the experience and potential of bilateral business relations and discuss possibilities of financing future projects.

Among the subjects to be discussed at the weeklong fair will be promising opportunities in the sphere of electric power generation and energy, and also in mechanical engineering and the manufacture of industrial equipment.

The Eastern Committee expects that new areas in German-Russian economic cooperation will be found during the numerous events at the fair, and Russia's image will considerably improve in the eyes of Germany's business quarters and media. The presentation is to offer new ideas and contacts, especially for small and medium-sized businesses, facilitating their emergence on the Russian market.

The German-Russian economic relations have been progressing for many years. Last year the trade turnover between the two countries reached ˆ27.2 billion. Germany remains Russia's biggest trade partner.

Machines and equipment prevail the structure of Germany's export. Other significant export items are chemical goods, motor vehicles and accessories. The total amount of German investments in Russia already exceeds $10 billion. The main industries for German investors are power engineering, the food industry and wholesale and retail trade.