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Economic relations

Economic relations

In terms of trade, France strengthened its positioning in Russia in the acute phase of the crisis, moving from ninth (in 2008) to sixth in terms of suppliers in January 2010. In the area of direct investment, France has, since 2006, improved its position substantially, moving in 2008/2009 to sixth (ahead of the United States and Italy). However, the structural imbalance between France and Russia remains obvious, with total investments standing at 8.5 billion (France in Russia) and 1 billion dollars (Russia in France).

In spite of a certain number of significant projects (SOYUZ in Kourou, Total’s involvement in the exploitation of Shtokman, investments of Alstom, Renault and Peugeot PSA, external growth of Société Générale and Axa, which have just acquired one of the leading places in Russia’s banking and insurance markets, Russian interest in the acquisition of a projection and command ship), these exchanges have been affected by the crisis.

The reciprocal facilitation of the conditions of our expatriates’ stays/residence (visas and work permits) should also play a role in reactivating our exchanges. Accordingly, a bilateral agreement on the movement and stays/residence of our expatriates was signed during the Intergovernmental Seminar in Rambouillet in November 2009.

In the aftermath of the Intergovernmental Seminar of November 2009, several major contracts were signed in 2010 between French and Russian companies, in particular during the forum in St. Petersburg in June.

Also see : http://www.tresor.economie.gouv.fr/se/russie/

Updated on 22.09.10

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