The speaker and Mitterlehner will discuss the cooperation between Russia and Austria in the economy

The speaker and Mitterlehner will discuss the cooperation between Russia and Austria in the economy


European sanctions and the Russian response, as noted previously Vice-Chancellor of Austria, inflict damage to both countries, efforts should be made to abolish existing restrictions.

MOSCOW, 3 Feb. The head of the Ministry of economic development Alexei Ulyukayev on Wednesday, February 3rd, he will meet with his colleague — Vice-Chancellor, Minister of science, research and economy of Austria Reinhold mitterlehner a; the Ministers will discuss trade and economic cooperation between the two countries, reports the press service of the Ministry of economic development.

Mitterlehner Tuesday in Moscow have already participated in the meeting of the Russian-Austrian Commission on trade and economic cooperation. At its end the Vice-Chancellor of Austria and Vice-Premier Dmitry Kozak said that the EU sanctions and retaliatory measures of the Russian Federation shall bear the expense of both economies, efforts should be made for their withdrawal, as business communication “tired” from mutual constraints, and the path of sanctions is a dead-end.

Sanctions

Relations between Russia and the European Union deteriorated in 2014 amid the crisis in Ukraine. After joining the Crimea to Russia, the EU along with a number of other countries have imposed sanctions against Russia, including in the field of Economics and Finance. Russia in response banned the import of agricultural products from these countries. In addition, the authorities of the Russian Federation within the program of import substitution restricted or banned government purchases from foreign suppliers in some sectors, the presence of similar offers from Russian companies.

However, taking a course to accelerated development in several industries to reduce the dependence on imported goods, Russia is not isolated from the world, say in the government.

Thus business and government officials from Russia and many EU countries have repeatedly advocated the abolition of the mutual sanctions. However, the authorities of the Russian Federation emphasized that the lifting of sanctions is possible only at presence of desire of all the parties. The Minister of economic development Ulyukayev, for example, is an opponent of the sanctions regime, calling it “the war where there are no winners, only losers”.

Overcoming

The Ministry of economic development is responsible to the government, including, and foreign trade and attracting foreign investment, so the speaker tries to maintain business relations with Ministers and business to foreign countries despite the sanctions.

For example, this year he has already held meetings with representatives of the European business Association, talked with businessmen from France in the framework of the Russian-French Council for economic, financial, industrial and trade issues. In addition, this week the speaker will meet with a delegation from Bavaria, which will discuss the situation with the investment climate in Russia and prospects for bilateral cooperation.