date:Aug 23, 2012
The move follows 18 years of complex negotiations. Russia has traditionally been an important export destination for EU food and drink products. It remains the EUs second largest foreign market after the US. However, despite large trade flows (exports worth 7.2bn in 2011) and the existing level of direct investment worth billions of euros, the Russian market until today has remained outside of the prevailing multilateral trade system.
The accession of Russia to the World Trade Organisation is a