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Trade between Russia and the European Union has grown by 44% since the beginning of the year

Trade between Russia and the European Union has grown by 44% since the beginning of the year

Trade between Russia and the European Union from January to December this year increased by 44%, to 224 billion dollars, according to the press service of the Ministry of Industry and Trade of the Russian Federation after a meeting between the head of the Ministry Denis Manturov and EU ambassador to Russia Markus Ederer.

During the talks, the parties discussed the possibility of cooperation in the decarbonization of the Russian and European economies, as well as issues of localization policy in Russia, in the timber industry and mandatory labeling of bottled mineral water.

"Russia is the EU's fifth most important trading partner (after China, the U.S., Britain and Switzerland, as of August 2021). We are determined to further develop a mutually beneficial trade and economic dialogue," Manturov said, adding that Moscow is the leader among European capitals in the number of electric buses used on city routes. He told about the development of charging stations infrastructure and creation of prototypes of hydrogen buses.

Mass production of hydrogen-powered commercial vehicles is planned to start by 2023. Technologies for production, storage and transportation of hydrogen are developing now. For example, today there is active cooperation with the French company Air Liquide and Swedish Volvo.

"During the meeting the parties also discussed issues in the field of timber industry. The head of the Ministry of Industry and Trade of Russia underlined that the main task is to stimulate the development of the industry of deep processing of wood in Russia. To this end, we abolish tariff quotas for the export of softwood from January 1, 2022", - the press service noted.

Another topic for discussion was the introduction of mandatory labeling of mineral water for all manufacturers in the country. According to the Federal Tax Service of the RF the volume of shadow mineral water market may reach 30%, as the Service informed. According to the press service, mandatory labeling should become an important mechanism of counteraction to this on the Russian market.

Made in Russia // Made in Russia

Author: Ksenia Gustova

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