09 October 2003 09:30
Putin says Russia`s arms are too strong for EU to twist
[Presenter] A major joint Russian-German project, an agreement to build the North-European Gas Pipeline, may be
signed in the next couple of days, President Vladimir Putin said during talks with German Chancellor Gerhard Shroeder.
The two leaders are meeting in Yekaterinburg.
[Correspondent Igor Konstantinov] Germany's economic significance to Russia can be summed up in nine words:
Germany is Russia's main economic partner in the world. Last year, the two countries' trade turnover was over
24bn euros. However, there is a certain imbalance in the make-up of this turnover: Russia exports natural resources but
imports equipment, with its domestic industry not developing. German companies are cautious in their readiness to make
direct investment in Russian enterprises, which they think suffer from corruption and links to the criminal world.
Another heavy burden in bilateral relations is Russia's debt [to Germany] on old government loans, which makes up
almost 40 per cent of the country's total debts. However, thanks to favourable commodity prices, Russia has been
repaying its debts ahead of schedule.
[Putin] It is very important for politicians and the business community alike to share the same mood, a mood for
understanding each other, for constructive cooperation and for achieving specific results.
[Correspondent] Speaking about the most promising projects, Putin mentioned the construction of the North-European
gas transportation system. [Passage omitted]
The European Union as a whole is hampering Russia's accession to the WTO [World Trade Organization], demanding
it drop cheap oil prices on the domestic market.
[Putin] We view it as simply an attempt at twisting our arms. I must tell you that Russian arms are getting stronger
and stronger and it would be hardly possible to twist them, even for such a powerful partner of ours as the European
Union.
[Correspondent] At the same time, Putin agreed that prices on raw materials need to be adjusted. He said that Russia
is not sticking to an asinine position on this issue, but it will do it gradually.
[Centre TV] |
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