Economic Relations

2.3 Russia-EU Trade and Economic Relations Today, the EU accounts for 48.6% of Russias foreign trade. However, an authoritative majority of Russias exports to the EU include fossil-fuel energy supplies and master(a) processed goods. At the same time, Russia accounts for 7.6% of the EUs aggregate imports and 4.4% of the EUs aggregate exports. On the whole, Russia ranks fifth among the European Unions trading partners (after the United States, Switzerland, China and Japan). Although this imbalance in trade is already close bilateral relations, Russia objectively requires not a smaller EU role in its foreign trade but a diversification of its exports and the development of trade with other actors, specifically by exporting its handed-down goods to other regions as well. This was a unanimous view of the workshop participants. The experts nonrecreational particular attention to the transport aspect of Russia-EU cooperation. Owing to its ludicrous geographical position, the Russian Federation can offer the about convenient and safest route mingled with Europe and Asia and reap inborn economic benefits from that. At present, the European Union seeks to increase its presence on Russian transit routes; this would include, primarily, flight routes.

To this end, the European Commission insists that European airlines be exempted from compensatory payments for flights through the trans-Siberian corridor. If Brussels persuades Russia to implement such steps, this would represent a major precedent. Essentially, it would permit the EU countries to increase their traffic and transit across Russia, therefrom effectively sidelining Russian airlines without compensating their financial losses. Russias integration into Europe and the world(a) economy could also be promoted by railroad traffic between Europe and Asia; this potential, however, has not been sufficiently tapped. Also, the toughening of environmental requirements will complicate projects involving the shipping of... If you want to get a full essay, order it on our website: Ordercustompaper.com

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