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Wednesday, April 08, 2009

France ready to boost investments, economic presence in Russia

France ready to boost investments, economic presence in RussiaPARIS, April 8 (RIA Novosti) - France is ready to increase investments and its economic presence in Russia to strengthen the two countries' partnership during the world financial crisis, the speaker of France's parliament said on Wednesday. National Assembly President Bernard Accoyer flew to Moscow on Wednesday evening to participate in the 14th Russian-French Inter-parliamentary Committee and hold talks with State Duma Speaker Boris Gryzlov. "In hard times it is even more necessary to strengthen our economic ties and develop new specifics of partnership," Accoyer told RIA Novosti during an interview. "France is also ready to use new investment opportunities and increase its presence in Russia." He noted that France's Alstom Transport just recently acquired shares in the capital of Russia's Transmashholding. According to French authorities, there are more than 400 French companies operating in Russia. France is the ninth largest exporter of goods to Russia and the seventh in investment into the Russian economy. In 2008, France exported 7 billion euros ($9.26 billion) of goods to Russia and imported 13.7 billion euros of Russian goods, 90% of which was oil products.

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