Nizhny Novgorod region Governor Valery Shantsev conducted a meeting with Ambassador Extraordinary and Plenipotentiary of Luxembourg Pierre Ferring.
"There are five companies with Luxembourg capital working in the Nizhny Novgorod region. This fact shows that our entrepreneurs feel comfortable to work here, said Pierre Ferring during his visit to the Nizhny Novgorod region.
Mr. Ferring met with Governor Valery Shantsev to discuss prospects of further cooperation in the field of economy and education. According to the head of the region, it is particularly important to strengthen international economic and social ties under challenging economic conditions.
"It is my third visit to the Nizhny Novgorod region and every time come here I feel that the region is literally filled with history and culture," Pierre Ferring shared his impressions. "In addition to the fruitful meeting with Governor Valery Shantsev, I visited the library of the Linguistic University today, where works of Luxembourg authors are presented. It would be great if we had more students from Luxembourg coming to the Nizhny Novgorod region and vice versa," the official said.
According to the Volga customs administration, the foreign trade turnover between the Nizhny Novgorod region and Luxembourg amounted to US $3.3 million as of 2015. Luxembourg was ranked 68th among 140 foreign trade partners of the Nizhny Novgorod region in 2015.
In 2008, an agreement of intent was signed between the government of the Nizhny Novgorod region and the Belgian-Luxembourg Chamber of Commerce for relations with Russia and Belarus.
The agreement stipulates for the construction of a Belgian-Luxembourg industrial park in the Nizhny Novgorod region. Under the agreement, the Belgian-Luxembourg Chamber of Commerce assists in attracting foreign investors to the Nizhny Novgorod region.