Cefic (European Chemical Industry Council) President Giorgio Squinzi (pictured) visited the Russian Chemists Union (RCU) for a one-day joint meeting in Moscow on April 12th designed to deepen cooperation between the Russian chemicals industry and the EU chemicals body. He was welcomed by RCU President Victor Ivanov, RCU Executive Director Igor Kukushkin, and representatives from major Russian chemicals companies.
Squinzi’s visit coincides with the decision last month by the Cefic board of directors to welcome the RCU application for associate membership into the EU chemicals trade group, set for final approval on September 28 at the Cefic general assembly in London, UK.
The two groups see the growth in Russian and EU chemicals sectors as vital to both economies. European and Russian chemicals industries also see opportunities to work together in areas that affect the chemicals sector worldwide, such as REACH, trade rules and greater investment flows.
Trade in chemicals between the Russian and EU markets has tripled in the past ten years to more than €15 billion in 2011. The European Union had a €4.3 billion chemicals trade surplus with Russia in 2011, as EU chemicals exports to Russia expanded by 18 % compared to the year prior. Imports from Russia grew by 20 %.