Prime Ministers of Russia Dmitry Medvedev and of Luxembourg Xavier Bettel held a news conference following Dmitry Medvedev’s visit to the Grand Duchy of Luxembourg, the website of the Russian government reported, citing Medvedev as saying, “Luxembourg remains one of the largest foreign investor in our country. It ranks fifth among the countries that invest in the Russian economy. By mid-2018, the volume of FDI stocks reached almost $20 bln. Bilateral trade is on the rise. It is not of fantastic proportions, but there is potential for growth.”
“Luxembourg companies have been working successfully in Russia for a long time now. They were instrumental in launching plants in big industries such as metallurgy, the automotive industry, the production of high-tech glass, and modern batteries. Luxembourg businesses not only continue to expand existing production, but show interest in new projects as well. Of course, we will continue to provide the most favorable terms and conditions for such companies in our country,” Medvedev said. He noted, among other matters, “There are opportunities for expanding cooperation in investment as well. It is important to develop cooperation in the sphere of high technology which includes space exploration.”