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Russia-Luxembourg trade in 2006 was $327 million

LUXEMBOURG, April 24 (RIA Novosti) - Trade between Russia and Luxembourg in 2006 reached 241 million euros ($327 million), or up 141%, year-on-year, the Luxembourg foreign minister said after talks with his Russian counterpart Tuesday.

"Our bilateral interaction is at a high level, especially in the economic sphere. In 2006, our trade turnover reached 241 million euros," Jean Asselborn said.

He said Russia is his country's second partner outside the EU after Switzerland, and that Luxembourg holds one of the first places in terms of the number of investments into the Russian economy.

Asselborn also said a memorandum of understanding has been signed between Sotec and Russian energy giant Gazprom [RTS: GAZP].

Earlier it was reported that Russia-Luxembourg trade in 2005 exceeded 100 million euros ($135 million).

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