European industry bosses push for closer EU-Russia cooperation
Prior to the EU-Russia summit in Sochi, the European Round Table of Industrialists issued a new report demanding closer economic cooperation between the Union and its largest neighbour. While US-Russia relations are deteriorating as a result of President Putin's geopolitical ambitions as an energy superpower, European industrial leaders are looking forward to even more cooperation as indicated by a new report of the 47 influential CEOs making up the "European Round Table of Industrialists (ERT)".
The report "Seizing the opportunity. Taking the EU-Russia relationship to the next level" was published ahead of the upcoming EU-Russia summit taking place in the Black Sea resort of Sochi on 25 May (see also EurActiv 24 May 2006). The ERT contribution focuses on the need to improve the cooperation with Russia in the "Common Economic Space" (CES), one of the four spaces defined under the 1997 Partnership and Cooperation Agreement between the EU and Russia.
Underlining Russia's potential to become one of the world's economic "powerhouses", the report recommends the following measures:
- improving the investment climate;
- enforcing intellectual, industrial and commercial property rights;
- boosting bilateral trade and investment;
- intensive policy dialogues;
- better accounting and auditing rules.
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