French Prime Minister Francois Fillon called on Saturday for strengthening France’s economic presence in Russia, warning of the existing situation which, he said, "does not correspond to the potentials of French companies."
"Russia is a developing market that France has not sufficiently exploited," he told his colleague Vladimir Putin during a working session with French entrepreneurs in Sochi, on the Black Sea coast. The session was held as part of the government’s annual Franco-Russian symposium, whose economic topics this year were overshadowed by the Georgian crisis. Fillon also stated that he wants "a greater number of Russian investors in France," responding to concerns expressed by Putin.
"I cannot say that Russian investors are overly active in France," Vladimir Putin assessed earlier, "but if there is a common will, we will be able to increase investments in both countries." The Russian Prime Minister directly addressed French entrepreneurs, saying he is "ready to consider all their proposals." According to figures provided by Fillon, France, with a 3.9 percent market share, is the ninth largest trading partner of Russia, "far behind Germany, but also Italy."
Its trade balance is "in significant deficit." Fillon ultimately "wished that Russia would be able to confirm its choice for integration into the global economy," which was a direct response to Putin who reiterated his country’s desire to join the World Trade Organization and to "deepen dialogue with the European Union." (Hina)
