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Russia, Germany to cooperate on labor efficiency

The sides noted that the development of labor efficiency is an important element for economic attractiveness and public wealth

ST. PETERSBURG, June 7. /TASS/. Russia and Germany have signed a declaration on bilateral initiative ‘Partnership for efficiency’, TASS correspondent reports from the signing ceremony.

The document was inked by Russia’s Economic Development Minister Maksim Oreshkin and Germany’s Minister for Economic Affairs and Energy Peter Altmaier at the St. Petersburg International Economic Forum on Friday.

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Russia to cooperate with Germany as part of national project on labor productivity

The sides noted that the development of labor efficiency is an important element for economic attractiveness and public wealth. The document stipulates that the two partners will be "developing bilateral economic cooperation and create favorable environment for efficient economic activities, as well as facilitate the development of various forms of cooperation between economic entities of the sides’ states within the strategic economic initiative ‘Partnership for efficiency’."

Russia and Germany plan cooperation in the field of labor efficiency through exchange of experience and best practices, as well as information regarding the legal and regulatory framework in the area. The two countries will also facilitate employee training and education, successful initiatives of enterprises and joint organization of study visits of Russian experts to Germany.

The declaration also stipulates that the sides will cooperate in the area of small and mid-sized businesses. They plan "to support within the initiative the development and expansion of mutually beneficial cooperation in the area of economic policy to assist small and mid-sized businesses, in the field of employee training and education, energy efficiency and renewable energy sources, digitalization," the document said.

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