Trade
The EU is Russia's largest trading partner by far with the EU accounting for 52.3% of all foreign Russian trade in 2008 and 75% of foreign direct investment (FDI) stocks in Russia also come from the EU. The EU exported €105 billion of goods to Russia in 2008 and Russia exported €173,2 billion to the EU. 68.2% of Russian exports to the EU are accounted for by energy and fuel supplies. For details on other trade, see the table below;
| Direction of trade | Goods | Services | FDI |
|---|---|---|---|
| EU to Russia | €105 billion | €18 billion | €17 billion |
| Russia to EU | €173,2 billion | €11,5 billion | €1 billion |
Russia and the EU are both members of the World Trade Organisation (WTO). The EU and Russia are currently implementing the common spaces (see below) and negotiation to replace the current Partnership and Co-operation Agreement to strengthen bilateral trade.
Read more about this topic: Russia–European Union Relations
Famous quotes containing the word trade:
“With respect to a true culture and manhood, we are essentially provincial still, not metropolitan,—mere Jonathans. We are provincial, because we do not find at home our standards; because we do not worship truth, but the reflection of truth; because we are warped and narrowed by an exclusive devotion to trade and commerce and manufacturers and agriculture and the like, which are but means, and not the end.”
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