Home / EMEA / Vladimir Putin: we decided not to apply import duties on most of the components that Siemens delivers to Russia

Vladimir Putin: we decided not to apply import duties on most of the components that Siemens delivers to Russia

Siemens President and CEO Joe Kaeser and Russian President Vladimir Putin met for detailed talks in the president’s official residence Novo-Ogaryovo near Moscow on March 26, 2014.

Сurrent and future Siemens projects in Russia and cooperation opportunities in the areas of infrastructure, rail transportation and energy were intensively discussed at the meeting. Joe Kaeser assured Vladimir Putin that Siemens will continue realization of its 1 bln investment program and localization projects in Russia working together with its Russian partners and betting on long-term investments. “Siemens will continue its work on the localization of production and industrialization of your country. Siemens has invested in the Russian economy about EUR 800 million euros, and we will continue to invest in the future relying on long-term cooperation”, said Joe Kaeser.

Vladimir Putin stated that “Siemens has been working on the Russian market for 160 years now and is present in nearly every sector of the Russian economy today. Over the last two years alone, the company has invested around 800 million euros in the Russian economy. This is quite a good result. Our cooperation with Siemens and other German companies is developing very well. Our trade came to a record $75 billion last year. The Russian Government is making the effort to ensure good conditions for our cooperation. We decided, for example, not to apply import duties on most of the components that Siemens delivers to Russia. We hope that our relations will continue to develop just as steadily as they have in the past.”

Photo: Presidential Press and Information Office

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