EUOBSERVER / BRUSSELS - The upcoming EU-Russia summit is to see the launch of a new initiative designed to help bring Russia's petro-dominated economy into the modern age.
The "Partnership for Modernisation" began as a conversation between EU commission chief Jose Manuel Barroso and Russian President Dmitry Medvedev at the last EU-Russia summit in November. The two sides are now racing against the clock to agree a joint communique for the top-level meeting in Rostov-on-Don on 31 May.
The EU commission in an informal paper last year put forward a 10-point agenda for the scheme. The main points include: ensuring the rule of law; increasing foreign investment; enhancing trade; integrating markets; creating a greener economy; boosting scientific research and support for NGOs.
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EU to help Russia modernise its economy