Common Economic Space & EU Financial Tools for Russia
Common Economic Space & EU Financial Tools for Russia

Author(s): Vladimír Benč
Subject(s): Politics, Economic history, Political history, Economic policy, International relations/trade, EU-Approach / EU-Accession / EU-Development
Published by: Research Center of the Slovak Foreign Policy Association (RC SFPA)
Keywords: Russia; EU; economy; financial tools; economic space; policy;
Summary/Abstract: At first sight bilateral trade and investment relations between Russia and the EU are making great progress in the last few years. Russia's share in the EU27's total external trade in goods doubled between 2000 and 2008. In 2008 Russia was the EU27's third most important trading partner after the USA and China, accounting for 8.0% of EU27 exports and 11.4% of EU27 imports (see Table 1). The EU27's 2008 trade deficit in goods with Russia was 72,816 million EUR, hence almost double that of 2000. However, a positive from the EU27 side is that exports were growing more intensely than imports from Russia.

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