EU-Russia summit aimed at new partnership for modernization.

The 25th EU-Russia summit will takes place in Russia's Rostov-on-Don early next week, with the aim of nurturing a new partnership for modernization while tackling the global financial and economic crisis, climate change and energy security.

According to an press conference held here on Friday, the summit will launch the concrete priorities of the new EU-Russia Partnership for Modernization, and will discuss foreign policy issues and European regional topics.

The summit, the first one with Russia under the Lisbon Treaty, will be attended by Russian President Medvedev, European Council President Herman Van Rompuy and European Commission President Jos Manuel Barroso, Vice President and High Representative for Foreign Affairs and Security Policy Catherine Ashton and Trade Commissioner Karel De Gucht.

During the summit, which will be held on May 31 and June 1, discussions on bilateral EU-Russia relations are likely to focus on the new EU-Russia Partnership for Modernization, which was first discussed at the Stockholm summit.

The operational launch of this partnership with a concrete set of priorities is an opportunity for the EU and Russia to build on the achievements made in implementing the four common spaces, and will further encourage growth and increase competitiveness.

The EU and Russia will reiterate their commitment to the long- term objective of bilateral visa free travel and will decide to start work on a list of common steps towards visa-free travel regime.

The leaders from the two sides will touch a number of international questions, including foreign policy issues like Iranian nuclear program, the Middle East, Afghanistan, Pakistan, European security, as well as regional issues in Europe and the Southern Caucasus.

The summit will also discuss trade relations, including Russia' s early accession to the World Trade Organization, which the EU continues to support. Joining the WTO is an important stepping stone towards deeper bilateral trade relations with the EU under a comprehensive new agreement.

In 2009, Russia was the EU's third most important trading partner after the United States and China while the EU reported a 50-billion-euro deficit in trade in goods with Russia. According to data on trade and investments between the two sides, published by the EU's statistical office on the eve of the summit, the trade volume accounts for 6 percent of EU exports and 10 percent of EU imports.


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