In German business, Bavaria is a big deal. Germany's largest state, it is also by far the richest, and accounts for almost 20% of German GDP. A conservative bastion, it is a political power broker. This statement from one of its leading business associations isn't terribly important in and of itself, but it is indicative of a growing sentiment in Germany that the sanctions have been a mistake.
We have been saying for months now that Germany will lead the path away from sanctions. This is just another drop in the bucket.
MUNICH, October 6. /TASS/. Bavaria’s entrepreneurs want Western sanctions against Russia to be lifted, said Dr. Eberhard Sasse, President of the Chamber of Commerce and Industry for Munich and Upper Bavaria.
Sasse told visitors to Russia's exhibition at an international property and investment trade fair in this German city on Monday, “We have about 9,000 members in the Chamber of Commerce and Industry, and we all want the sanctions against Russia to be lifted, enabling business relations between our countries to develop further.”
Sanctions as a foreign policy tool do not always produce the desired effect, Sasse said. “Sanctions create uncertainty in business prospects. This is a political tool and not a business tool,” he added.
Russia has always been one of the market leaders in property investment, Sergey Cheryomin, a minister in the Moscow government administration and head of its Department for Foreign Economic Activity and International Relations, told visitors, noting Russia's traditional dominant presence at the exhibition and the lure of public-private partnership projects.
Bavaria is considered one of Moscow’s major trading partners. First exchanges of delegations took place at the end of the 1980s. In 1991, the two sides signed a cooperation protocol laying the foundation for future partnership between Russia’s capital and Germany’s largest federal state.
Priority areas of cooperation between Moscow and Bavaria include high technology and innovations, transport, medicine and medical equipment, nano- and biotechnology, culture, sports, and youth exchanges.