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Ministry of economic development of the Russian Federation

Icelandic business shows increasing interest in Russian market — Lavrov

26.11.2019

Icelandic entrepreneurs show growing interest in the Russian market, despite sanctions, Russian Foreign Minister Sergey Lavrov said after talks with Foreign Minister of Iceland Gudlaugur Thor Thordarson.

"We noted the growing interest of the Icelandic business in the presence on the Russian market," Lavrov commented. "This, in particular, manifested itself in the creation of the Russian-Icelandic Chamber of Commerce last month, which includes more than 30 companies from Iceland," he added.

"According to last year’s results, despite the continued sanctions restrictions, we were able to reverse the negative trend in trade," the minister emphasized. "Commodity turnover has grown by more than 20%. Although the absolute numbers are still modest — about $50 bln — the trends are clear," he pointed out.

Lavrov informed that the parties agreed to bolster trade growth and make it sustainable. "In this regard, we assign a special role to the mechanism of regular Russian-Icelandic trade and economic consultations, the next round of which is scheduled for the second quarter of 2020," he stated.

Source: TASS



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