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Denmark could promote RF economy modernisation

April 04, 2012, 13:37 UTC+3

Russia with its fast-growing economy is “geographically closest and very important for Denmark, said Pia Olsen Dyhr

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COPENHAGEN, April 4 (Itar-Tass) — Possibilities for strengthening the Russian-Danish trade and economic relations will be discussed in Kazan on Wednesday by Minister of Trade and Investment of Denmark Pia Olsen Dyhr and Russian Economic Development Minister Elvira Nabiullina. The sides will consider, in particular, the development of cooperation in the energy and food industries.

The Danish and Russian ministers will attend a ceremony of opening in Kazan by Denmark’s Rockwool of the world’s largest enterprise for the production of stone wool – an ecological insulating material. Pia Olsen Dyhr will also meet with the leadership of the Republic of Tatarstan.

The Danish company Rockwool that produces modern insulating materials opened a representative office in Russia in 1995. Two of its enterprises are already working in Russia - in Zheleznodorozny outside Moscow and in Vyborg, the Leningrad region. The plant in Kazan will be the world’s largest enterprise for the production of thermal insulation, the planned volume of output is more than 100 thousand tonnes per year.

Rockwool has 27 companies in Europe, Asia and North America, the company employs 9,000 people, its profit in 2011 totalled 1.8 billion euros. Its Russian branch gives the company 11 percent of turnover.

Russia with its fast-growing economy is “geographically closest and very important for Denmark country of the BRICS group,” Pia Olsen Dyhr stressed in an interview with Itar-Tass on the eve of the visit. “I am satisfied with the intense economic ties between Russia and Denmark,” she said, “but I think that there is a potential for more meaningful results.”

“In terms of socio-economic development up to 2020 the Russian government has determined the economy sectors that need growth,” the minister said. “It is in these spheres where Denmark has high competence and substantial achievements. In many of these spheres our company are the world leaders. I am convinced that Denmark can contribute significantly to the modernisation of the Russian economy.”

“In 2011, Danish-Russian trade turnover, according to statistics of the two countries, accounted for 4 billion US dollars, a record figure in the history of Russian-Danish trade and economic relations,” Russian Trade Representative in Denmark Tatiana Volozhinskaya told Itar-Tass. “Compared with 2010, the growth accounted for 21 percent, including exports - 21.2 percent and imports - 20.6 percent.”

In the run-up to the visit, the Russian Economic Development Ministry jointly with the trade mission organised a visit of a delegation of the Russian business community to Denmark, during which prospects for cooperation in the field of energy efficiency in the production, distribution and consumption of energy in Russia were considered.


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