EU to seek free tade area with Russia

The European Commission today said it wanted to seek a closer relationship with Russia that could lead to a free-trade area comprising Russia and the 25-nation EU once Russia joins the World Trade Organisation.

In Helsinki, Finland, commission president Jose Manuel Barroso said the EU’s executive arm would seek a mandate to conclude a “comprehensive” agreement with Russia that would lead toward a “free trade area to be completed when Russia accedes to WTO”.

He told a news conference that he would be seeking agreement of the 25 EU governments to negotiate the deal which would “bring a new quality” to the EU-Russia relationship”.