The localization of industrial value creation and the development of Siemens' investments in Russia were intensively discussed at the meeting. Putin praised Siemens for its contribution to the modernization of Russia's infrastructure and its expansion of industrial value creation in Russia for the domestic market and for export. On Siemens' behalf, Joe Kaeser expressed the company's great interest in deepening the partnership that has linked Siemens and Russia since the opening of the company's first Representative Office in St. Petersburg in 1853.
Putin and Kaeser underscored the importance of intensifying the European-Russian partnership and expanding cooperation between the European Union and Russia. "It's in our mutual interest to fill the neighborhood with even more life and to jointly tap our economic and political potential more extensively," said Kaeser. For his part, he would foster and support this endeavor as much as possible, he added.
Siemens has been active in Russia for 160 years and currently has about 3,500 employees in the country.