Putin and Merkel Agree on Economic Cooperation / News / News agency Inforos
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Putin and Merkel Agree on Economic Cooperation

Putin and Merkel Agree on Economic Cooperation
The Russian-German interstate consultations chaired by Russian President Vladimir Putin and German Federal Chancellor Angela Merkel have ended in the city of Tomsk. The meetings, attended by 58 representatives from both sides, were held in the reading hall of Tomsk State University.

In the course of the consultations V. Putin and A. Merkel met with participants of the presidential program for the training of managerial staff for Russian economy, as well as with representatives of Russian and German business circles.

Then V. Putin and A. Merkel went on a sightseeing tour of the city of Tomsk. The two heads of state rode in a car along Tomsk streets. Stopping on the embankment of the River Tom, they stepped out to see the ice drift on the river. On the riverside they had a talk with townsfolk.

As the Russian President said, the meeting in Tomsk was in fact a field session of the two governments, being attended by 13 Russian heads of ministries and agencies and 10 members of the new German cabinet.

V. Putin singled out power engineering, aviation and outer space exploration as the main fields of cooperation between the two countries and called for a shift from the traditional trade forms of interaction to a large-scale cooperation.

Based on the results of the consultations, eight agreements were signed in the presence of the two leaders, and large-scale investment projects were agreed in the fields of power engineering, communications, transport, aviation and outer space exploration. A high-level work group will carry out their detailed study.

In the field of power engineering, an agreement was signed between Russian company "Gazprom" and German "BASF" concern about an exchange of assets. "Gazprom" will raise its share in the Russian-German joint venture Wingas GmbH up to 50 percent, less one share. Along with that, "Gazprom" would get a share in the capital of one of the companies of the "Wintershall" Group, owning shares in geological exploration and development assets in Libya. For its turn, "Wintershall" will get 25 percent, less one voting share, and 10 percent of non-voting shares in OAO "Severneftegazprom" company. Thus "BASF" will have 35 percent, less one share, in the Southern-Russian oil/gas field.

Apart from that, "Gazprom" and "BASF" will create, on a parity basis, a joint venture "Wingas-Europe" for selling natural gas to European countries. The document envisions producing up to 25 billion cubic meters of gas annually for the duration of 30 years.

Russian "Vnesheconombank" and German "Deutsche Bank" signed an agreement on supporting joint projects in the field of state/private partnership.

In the course of the consultations, talks were also held about cooperation in the field of transport, about speeding up the transit of cargos from Europe to Asia, as well as about construction of high-speed trains in Russia.

Russia and Germany agreed to continue the brisk interaction between the law-enforcement entities of the two countries in the event of emergency situations arising in Europe and other world regions.

They reaffirmed their interest in a diplomatic solution of the Iran nuclear problem.

During the Russian-German meeting the two sides reaffirmed their commitment to extending their strategic partnership, to using the best experience accumulated over the past years and to moving it on.
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