Moscow, June 8. - Minister of Industry and Trade of the Russian Federation Denis Manturov held online negotiations with the Minister of Foreign Trade of the Kingdom of Sweden Anna Hallberg. As co-chairs of the Russian-Swedish Steering Committee on Trade and Economic Cooperation, the ministers discussed the state and prospects of bilateral relations.
The Russian Federation is one of Sweden's leading European trade partners outside the European Union. Russia ranks 13th among the country's main foreign economic partners.
Swedish business has been successfully developing on the Russian market for several decades. The world-famous Swedish companies Volvo, IKEA, Ericsson, Astra Zeneca, Scania, ABB and many others annually increase the volume of localized products sales and expand investments in the Russian economy.
In terms of the number of investment projects being implemented in Russia, Swedish companies are in the lead. Their investments contribute to the expansion of the range of trade between our countries, the involvement of more and more new companies, both Swedish and Russian, in bilateral trade.
More than 500 companies with Swedish capital feel confident in the Russian market. According to estimates of the Swedish agency Business Sweden, most of them consider their activities in our country to be profitable and are not going to leave the Russian market.
As on 2019, trade between Sweden and the Russian Federation amounted to USD 4.534 billion. Mineral products prevail in Russian exports to Sweden (67.7%), while in Swedish exports to Russia prevail machinery, equipment (56.2%) and chemical products (20.7%).