21 Oct 2009 15:17

German companies want to be involved in privatization in Russia

MOSCOW. Oct 21 (Interfax) - German companies intend to be involved in the privatization process in Russia, Klaus Mangold, the chairman of the Committee on Eastern European Economic Relations, an organization of various associations representing German businesses, said at a meeting between Russian Prime Minister Vladimir Putin and members of the German business community in Moscow on Wednesday.

"We believe that the privatization program that was announced by the government in Russia several weeks ago provides new important chances to further develop cooperation between Russia and Germany," Mangold said.

"We would like to invite you to develop especially close cooperation in this very field," Mangold said addressing Putin.

"In the privatization field, it will be possible to lay a new foundation for reaching a higher level of improvement of the economy's efficiency and competitiveness and transferring technologies between Russian and German companies making up joint ventures," he said.

German investments in Russia did not drop even during the crisis 2009, "and all the 6,000 German enterprises present in Russia are staying here to work," Mangold said.

"There are large-scale projects for the future," Mangold said. These include infrastructure, the energy sector, the improvement of energy efficiency, and the enlargement of the pipeline network, he said.

"The German economy views itself as a natural partner of Russia in modernizing the Russian economy," he said.