Eu Trade Agreement With Russia

The legal basis for EU-Russia relations is the Partnership and Cooperation Agreement (APC). The CPA, signed in June 1994 and in force since December 1997, was to be valid for ten years. It is thus automatically renewed every year since 2007, until it is replaced by a new agreement. [210] The APC provides a political, economic and cultural framework for relations between Russia and the EU. It is all about promoting trade, investment and harmonious economic relations. However, it also mentions “the common goal of democratic principles and human rights, as defined in the Helsinki Final Act and the Paris Charter for a New Europe” and a commitment to international peace and security. [211] [212] A replacement agreement has been under negotiation since 2008 and a more detailed agreement is being negotiated thereafter and WTO membership is being negotiated. In his speech after the summit, Barroso described the EU`s efforts to conclude trade agreements with members of the EU`s Eastern Partnership – all in Russia`s vicinity – as “keys to achieving the strategic objective of creating a common economic area from Lisbon to Vladivostok”. The EU`s trade relations with Russia are currently governed by an agreement negotiated at the end of the Soviet era and in force since 1994. This agreement was due to expire in 2007, but was put out of control every year.

The three presidents said their next summit, on June 3 in Sochi, would try to revive long-standing talks for a succession agreement, for now simply called the “new agreement.” The EU is Russia`s largest trading partner, which in 2008 accounted for 52.3% of Russia`s total foreign trade and 75% of foreign direct investment (FDI) in Russia also coming from the EU. In 2008, the EU exported 105 billion euros of goods to Russia and Russia exported 173.2 billion euros to the EU. Energy and fuel supply accounts for 68.2% of Russian exports to the EU. For more details on other trade relationships, see the table below; [201] A Levada poll published in August 2018 showed that 68% of respondents in Russia believe that Russia needs to significantly improve its relations with Western countries. 42% of Russians surveyed said they had a positive view of the EU, up from 28% in May 2018. [241] A Levada poll published in February 2020 showed that 80% of respondents in Russia believe that Russia and the West should become friends and partners. 49% of Russians surveyed said they had a positive view of the EU. [242] However, with the exception of Bulgaria, Slovakia and Greece, the proportion of inhabitants of other EU countries surveyed by the Pew Research Center with a positive view of Russia is well below 50%. [243] In 2015, the United Kingdom