Развитие торговых отношений России и стран ЕС в условиях геополитической нестабильности | DEVELOPMENT OF TRADE RELATIONS IN RUSSIA AND THE EU IN THE GEOPOLITICAL INSTABILITY

Trade relations are one of the key areas of cooperation between Russia and the European Union countries. However, prospects of trade and economic cooperation development between the countries in conditions of geopolitical instability have been insufficiently studied, which explains the relevance of the research topic. In this work, there are analyzed changes in the structure of exports and imports of the Russian Federation and the EU within the period 2009-2014, revealed Russia's dependence on supplies of food and high-tech equipment, which are included in the sanctions list. There was substantiated the expediency of the accelerated modernization of domestic material base, active development of innovative environment and creation of conditions for enhancing public-private partnership in the investment sphere. Calculation of the economic and financial losses of the Russian Federation and the EU because of the sanctions regime and food embargo showed significant dependence of the economies of each other. The analysis of the development tendencies in trade relations between Russia and the EU has identified the main challenges in the development of foreign trade between countries: restriction of opportunities to attract foreign investment; curbing exports; devaluation of the national currency and increasing inflation. The main proposals that can strengthen trade relations between the EU and Russia are highlighted: the abolition of the bilateral restrictions; development of a new juridical framework; establishment within the Federal Assembly ad hoc committees on the regulation of relations with the EU in order to specify the main goals and objectives of the strategic partnership, creation of conditions for their implementation; speeding up the adjustment of the Russian legislation to international standards in the framework of Russia's membership in WTO