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1 Aug, 2021 06:29

Bilateral trade between Russia & Netherlands rebounds from post-pandemic lows

Bilateral trade between Russia & Netherlands rebounds from post-pandemic lows

Trade turnover between Russia and the Netherlands saw a year-on-year surge of 23% from January through May 2021, according to the Russian ambassador to the Netherlands Alexander Shulgin.

“The Netherlands, along with Germany and China, are traditionally among Russia’s three major trading partners,” the ambassador said.

According to Shulgin, trade turnover between the two nations dropped 41.6% to $28.6 billion during the pandemic-hit 2020.

“Last year, Russian exports to the Netherlands fell by 44.6%, from $44.7 billion to $24.8 billion, while imports to Russia saw a modest decrease by 5.7%, from $4 billion to $3.7 billion,” the top diplomat said.

He added that the Netherlands remains the leader in terms of investment cooperation with Russia.

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“The volume of direct investments from the Netherlands to Russia totaled $46.7 billion as of January 1, 2021, while investments from Russia to the Netherlands amounted to $33.8 billion,” Shulgin said, citing Russian central bank data.

He also said that major cooperative projects for production and liquefaction of natural gas, as well as projects focused on renewable energy sources, are being successfully implemented.

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