On Monday, Austrian-Russian Business Council had its 12th meeting in Moscow.
Speaking to its members, Chairman of the Council Helmut List noted that ARBC is a most active and efficient instrument of the bilateral economic cooperation which over the years of its functioning has promoted 26 major strategic projects worth over €4 bln.
According to Helmut List, activities of Austrian-Russian Business Council are focused on economy modernization, private investment, productivity growth, digitalization, R&D.
Bilateral trade suffered a major drop after 2014, the Chairman said, yet now it is gradually recovering with improvements particularly visible in industries such as transportation, wood processing, and mechanical engineering. He also pointed out at advantages of production localization, especially in Russia’s special economic zones in Lipetsk, Saratov and Moscow Regions.