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Sweden has traditionally invested heavily into the Russian economy, especially into manufacturing. With its leadership not only in R&D, but equally in rolling out innovation, Swedish experience is of particular interest to Russia. However, bilateral cooperation between the two countries is currently in a slump provoked by weaker oil prices and political reasons. The negative trend can be overcome with more active intergovernmental contacts and more efforts by Russia to attract foreign investment.
In the recent years, the economic exchange between Russia and Sweden has been ebbing.
Total investments coming from Sweden remain high at USD 15 billion, which helped create over 30,000 jobs.
However, further inflow of money from Sweden could be hampered.
Russia offers Special Investment Contracts (SICs), which could be an efficient vehicle to bring in foreign capital. They were introduced by the Russian legislators back in 2015 to guarantee stable tax and customs benefits.
Economic ties between the two countries could receive a strategic impetus, should intergovernmental dialogue be revitalised and hurdles to regular contacts be removed.