Export of Swiss items to Russia surged over 10 % final 12 months, reaching practically 80 % of the pre-crisis ranges, in accordance to Tobias Privitelli, the deputy head of the Swiss diplomatic mission in Russia.
The deputy ambassador added that Switzerland has been exporting huge volumes of pharmaceutical merchandise, gear and electronics. Mutual commerce between the nations had been declining by about 13 % from 2017 via 2018, in accordance to Privitelli.
However, exports from Switzerland to Russia grew by 12 %, which is very vital. That’s 80 % of exports volumes we had in 2013, earlier than the disaster,” he stated.
Swiss prescribed drugs reportedly accounted for 49 % of the nation’s total exports to Russia, whereas gear and electronics totaled 17 %. The share of Swiss watch, jewellery and another luxurious objects additionally reached 17 %. Agricultural merchandise grew to become the third largest export merchandise, accounting for 8.5 %.
The prime diplomat highlighted the expansion of Swiss investments in Russia that noticed a modest enhance of 1.5 % over the required interval. Zurich-based multinational ABB Group, which focuses on robotics, energy, heavy electrical gear and automation expertise sectors, established a brand new engineering department in Russia’s Kaliningrad on the Baltic Sea.
“Switzerland is still one of Russia’s top ten international investors,” Privitelli stated.
Further investments could reportedly be targeted in areas comparable to tradition, applied sciences and the surroundings.