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EIB Announces new EU-Russia Strategic Partnership
2012-12-03
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The European Investment Bank (EIB) has just announced the basis of a Partnership and Cooperation Agreement (PCA) between EU-Russia. The first such agreement was signed in 1994 and came into force on the 1st December 1997 and was for an initial period of 10 years, Discussions on a new agreement started in June 2008 to replace the old EU-Russia strategic partnership agreement.
The negotiations were started in July 2008, and in May 2010, 9 full negotiating rounds took place. The New Agreement should provide a comprehensive framework for EU-Russia relations, and include substantive, legally binding commitments in all areas of the partnership, including economic cooperation issues, as well as provisions on trade, investment and energy.
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