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Antonio Fallico: Signs of revival in Russian-Swiss trade

November 22, 2017, Lugano (Switzerland), Moscow. The second Russian-Swiss business seminar was held in Lugano today.

Its participants discussed the development of the geopolitical situation in the world and the place of Russia in international context, as well as opportunities for bilateral cooperation in the field of finance and commodity trade.

The seminar was organized by the Italian non-profit Association "Conoscere Eurasia", as well as the "Roskognress" Foundation and the St. Petersburg International Economic Forum with the support of Banca Intesa, Fideuram, Lugano Commodity Trading Association and Russian House in Davos.

The Secretary of State of the Canton of Ticino, Norman Gobbi, the Co-Chair of the Switzerland-Russia Friendship Group of the Federal Assembly of Switzerland, Filippo Lombardi and the Russian Ambassador in Switzerland, Sergei Garmonin, addressed the seminar participants. Among the speakers were the heads of financial groups and industrial companies and experts from the two countries.

"In 2016, Swiss exports to Russia totaled approximately 2 billion Swiss francs, slightly down from the previous year's figures, while the total turnover stopped at around 5 billion Swiss francs," said the Chairman of the Board of Directors of Bancа Intesa, the President of the Association "Conoscere Eurasia" Antonio Fallico. - The decrease in trade turnover has been taking place since 2014 and is connected, first of all, with the fall in prices for Russian energy carriers imported to Switzerland. Nevertheless, at present there is a change in the trend, there are signs of a revival of trade. Thus, and Swiss exports to Russia in the third quarter of 2017 have already grown by 24.9%, reaching 637 million Swiss francs.”

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