Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-273-937"
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"en.20121026.23.5-273-937"2
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The Russian Federation concluded its multilateral negotiations on accession to the WTO after 18 years of negotiations on 10 November 2011 and was officially accepted as a member on 16 December 2011. The EU is a strategic trade partner of Russia, considered its most important and still growing source of imports, its main export destination and a key investment partner (in terms of direct foreign investment), accounting for 47.1 % of Russia’s overall trade. This relationship is still growing, while Russia has also become the EU’s second source of imports (EUR 158.6 billion) and its fourth export destination (EUR 86.1 billion) (2010 figures).
On the other hand, however, it is important to state that, in the run-up to the completion of its WTO accession Russia has not been fully living up to its future WTO obligations. I consider it essential for Russia to remove the unjustified temporary bans, unilateral temporary tariff increases and protectionist measures and barriers to open and fair trade, which have done great damage to EU exporters. Providing the stated obligations are mutually observed, Russia’s anchoring to the multilateral trading system and its rules undoubtedly represents a further step in improving bilateral relations between the EU and Russia."@en1
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