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Czech Republic worried over decreasing trade with Russia — minister

October 04, 17:07 UTC+3 BRNO
The Czech industry and trade minister says the country considers Russia as one of its key trade and economic partners
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BRNO /Czech Republic/, October 4. /TASS/. The Czech Republic considers Russia as one of its key trade and economic partners and would like to curb the growing negative dynamics in this sphere, Czech Minister of Industry and Trade Jan Mladek told TASS on Tuesday on the sidelines of the Russia Business Day.

"Russia is among our historic partners in the sphere of economy and trade. That is why we are very worries over decreasing Czech exports and trade with Russia," he said. "This alarming tendency has intensified this year."

He said the negative dynamics in the trade and economic cooperation between the two countries stems from "the problems in the Russian economy and fluctuations of the ruble exchange rate." The reciprocal Russian and the European Union’s sanctions have adversely told on bilateral trade too, he added.

Czech businessmen want the European Union to lift restrictions on trade and financial partnership with Russia as soon as possible.

"The decision on lifting the sanctions can be influenced mainly by big European states, members of the European Union," Mladek said. "We are working on how to overcome the negative dynamics in the trade and economic relations with Russia."

Trade between Russia and the Czech Republic dropped by 26.7% in the first seven months of the current year on the same period last year. By early August, it stood at $3.26 billion. Last year, bilateral trade went down by 40% on 2014.

The Czech minister noted that considerable reserves for trade and economic cooperation are in Russian regions. Traditional participation of delegations from Russian regions in the machine-building fair in Brno proves increased interest of Russian regions to direct contacts with the Czech Republic.

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