Bulletin 1/2011 - Siempelkamp

SieMpelkaMp | MACHInERy AnD PLAntS
an important role. the worldwide economic crisis hit the Russian
trade balance especially hard because its success is based primarily
on the sales of natural gas and oil.
nevertheless, clear signs of a recovery are currently noted.
Especially German companies with over 6,000 representations
there have become Russia’s most sought-after trade partners
and suppliers to the Russian economy. next to China and
Singapore, Russia is regarded as the most popular target country
for investments worldwide.
Another big influence for the Eastern European business is the
increasingly important role that the wood-based materials
industry plays in Russia: “the Russian government has realized
that Russia’s economy cannot be reduced to just the production
of natural oil and gas but that an actual value creation has to
take place in the country. therefore, this dependency is to
be reduced with suitable measures,” describes Hans-Joachim
Galinski, Siempelkamp sales manager for Eastern Europe
(subject-related interview on page 8).
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Trade agreement with the USSR in 1929