Croatia and Russia Agree to Increase Economic Cooperation

Total Croatia News

ZAGREB, September 13, 2018 – Croatian Economy Minister Darko Horvat met with Russian Ambassador Anvar Azimov in Zagreb on Thursday, and they agreed that ways of improving investment cooperation should be explored, the ministry said on its website.

The two countries should develop their cooperation on a wider economic plane and should explore possibilities of improving investment cooperation to revitalise their relations, the statement said.

The Russian Federation is a significant trading partner to Croatia and there is potential to increase trade between the two countries, according to the statement.

The meeting reaffirmed the very good cooperation in the tourist industry, highlighting the projects Jadranka Hoteli on the northern Adriatic island of Lošinj and the Hotel Belvedere in Dubrovnik.

Horvat also mentioned the pharmaceutical industry, saying that Croatian pharmaceutical companies had been successful exporters to the Russian market for decades.

Russian companies have invested the most in the Croatian energy and tourism sectors, while Croatian investors have been most active in construction and engineering.

The intergovernmental commission for economic and scientific cooperation is expected to meet in November this year, which will be an opportunity to increase economic cooperation between the two countries. Following the commission’s meeting in October 2017 and meetings of various task forces, this framework is expected to provide further institutional support to companies and facilitate doing business, the statement said.


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