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. Last Updated: 07/27/2016

Germans Say Laws Deter Investment

BERLIN -- Russia's ever-changing tax, customs and import-export regulations are badly discouraging foreign investment, Germany's economics minister complained

Russia accounts for only 2 percent of Germany's foreign trade and Germans invested just 137 million Deutsche marks ($95 million) in the country last year -- six times less than in the Czech Republic, G--nter Rexrodt said Wednesday.

"How is a potential German investor who wants to make a long-term commitment to know if he can make a profit in Russia?" Rexrodt said in opening a conference on German-Russian economic cooperation.

Rexrodt said the Kremlin's war on Chechen separatists was discouraging foreign investment.

He also said the 24 billion marks in trade between the two countries last year was far below its potential.