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Merkel offers help to underpin Russia's economic modernization
Oct 14, 2010, 13:37 GMT
Berlin - German Chancellor Angela Merkel offered on Thursday to provide substantial assistance to Russia to help the nation modernize its economy.
Speaking at a meeting of the influential Central and Eastern European Committee of German industry, Merkel acknowledged Russia's key role as a partner for both Germany and the European Union.
'Russia's standing as a strategic partner is not just on paper,' she said.
The Chancellor went on to say that both Germany and the whole of the European Union had a huge interest in drawing Russia closer to Europe.
The modernization strategy, which Russian President Dmitry Medvedev together with the nation's government and Prime Minister Vladimir Putin had launched, 'is the key to success' for Russia, she said.
Despite the strategic importance of Russia's reserves of raw materials, the nation's success cannot be solely based on its natural resources, she said.
With this in mind, Germany is ready to offer technological assistance and cooperation in all industry sectors, Merkel said.
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