The AEB was established in 1995 on the initiative of European companies working in Russia, and supported by the Delegation of the European Commission and a number of European embassies. Initially, the organisation was called “The European Business Club” (up to 2004). In 1996, the organisation comprised 120 companies, but now the AEB consists of more than 600 companies from 23 countries of the European Union and 8 countries outside the EU, including Russia. The association has opened two regional offices: in 2003 in Krasnodar, and in 2010 in Saint-Petersburg.
The association consists of 45 industrial and cross-sectoral committees representing and defending the interests of European companies at the level of the state and the municipalities.
"Over the years, we have managed to develop a good working relationship with representatives of Russian and European government agencies. It is important for us that our opinion is taken into account. AEB experts participate in the development of new business legislation, and representatives of ministries and departments meet with the member companies of the AEB", Frank Schauff, AEB CEO, said.
"It is in difficult times that companies are most in need of support, exchange of experience and cooperation with the same market participants. The AEB gives companies this opportunity. We are optimistic about the future and look forward to continuing our productive work in Russia", Philippe Pegorier, Chairman of the AEB Board, said.