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European Law Monitor newsVice-President Verheugen to visit Russia to discuss closer economic co-operation

European Commission Vice-President Günter Verheugen, responsible for Enterprise and Industry, will visit Moscow on 16 July to discuss EU-Russia economic relations. Mr. Verheugen´s visit comes at a time when trade and investment between the EU and Russia is booming. His visit will focus on the need to upgrade the current level of economic cooperation for the benefit of both parties. The Vice-President will encourage Russia to take the final necessary steps to accede to the World Trade Organisation (WTO).

The Vice President´s will meet Viktor Khristenko, the Russian Minister for Industry and Energy. Together with Minister Khristenko, Vice President Verheugen established a system of regulatory and industrial dialogues at the end of 2005. These dialogues have made considerable progress. It is clear that they have to move to a more operational phase in order to start producing practical results which would facilitate trade and business opportunities for Russian and European partners.

Russia is the European Union's third largest trading partner. Between 2000 and 2006 the export from goods from the European Union's current 27 Member States more than tripled in value to 72,4 billion Euro. Imports from Russia to the EU over the same period have more than doubled to 140,6 billion Euro.

Mr Verheugen will also be meeting representatives of European businesses in Russia and senior Russian officials.  

Reproduced with the permission of the European Commission IP/07/1092