Putin calls on French businessmen to enter into investment and trade contracts with Russia
Russian President Vladimir Putin said he expects to conclude major trade and investment contracts with French businessmen at the St. Petersburg International Economic Forum (SPIEF) in 2018, according to a transcript from a meeting published on the Kremlin website.
"We expect that new major trade and investment contracts will be concluded at the upcoming International Economic Forum in St. Petersburg in May," the Russian President said at a meeting with members of the Franco-Russian Chamber of Commerce and Industry (CCI France Russia) association. "We will be glad to see you all, honorable members, in St. Petersburg," he said.
At the same time, Putin told French businessmen that Russia "has risen in the World Bank's rankings on the conditions for doing business to 35th place". "I draw your attention to the fact that France is in 31st place. If we act in the same way, we will soon catch up with you. I hope," Putin said.
"And it will be more comfortable for you to work in Russia than in France," he added. The rise in the rankings was possible due to efforts to reduce administrative burden, simplify customs procedures, and expand access to credit resources, the President added.
In early January, French Economy Minister Bruno Le Maire said that France hopes to strengthen trade ties with Russia and China and create a "trade axis" for economic relations with Beijing against the backdrop of Britain's withdrawal from the EU. Paris thusly hopes to balance trade ties with Washington and London. The Minister promised to start work toward this end with a visit to the SPIEF in 2018. In October 2017, French President Emmanuel Macron responded to his invitation to the Forum.
The SPIEF has met in St. Petersburg annually since 1997. The Russian president has taken part in it since 2005. The 2018 forum has been postponed to the end of May due to the World Cup.