
Nearly two-thirds of German companies expect constant or even better business in Russia in 2014 despite ongoing sanctions over Ukraine, said a survey published Tuesday by the German-Russian Chamber of Commerce (AHK).
Approximately one in three companies is worried about reductions in business of up to 50 percent or more, the survey of 300 German companies said.
Small and medium enterprises from machine and plant engineering sectors were most affected, said Dr. Volker Treier, deputy chief executive of the German Chambers of Industry and Commerce Chambers (DIHK).
Nearly 80 percent of respondents found the current economic sanctions ineffective and considered it as inappropriate to bring about political solutions.
More than half of the companies said that the conflict in Ukraine has a direct impact on their business.
"We are not convinced that long-term goals can be achieved with economic sanctions. However, under the current circumstances, they seem to be an effective means to bring all parties to the negotiating table," said Rainer Seele, chairman of the AHK.
If the situation continues to deteriorate or sanctions last for a long time, some companies would be forced to cancel projects, lay off employees or leave Russia, the survey added.
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor