EU contemplates 'common market' with Russia

French President and EU presidency holder Nicolas Sarkozy yesterday (21 October) unveiled a new cooperation strategy with Russia that would build stronger economic links between Europe and its largest Eastern European neighbour.

The term recalls the early stages of EU history, which saw the development of a 'common market' that was subsequently renamed the 'single market' in the 1980s.

Sarkozy's view of Russia sharing a common economic space marks another step in his attempt to forge a new relationship with Moscow based on trust and tighter integration.

At a recent meeting in Evian, the French president and his Russian counterpart Dmitry Medvedev voiced similar messages about the need to reconstruct Europe's security architecture (EurActiv 09/10/08).

"I don't see Russia as a determined rival to the European Union," Sarkozy told the Parliament. "I think, on the contrary, that it would be necessary, in the future, to lay the basis of a common economic space between Russia and the EU, which will be, by the way, the best way to obtain from them that they get closer to the values of respect for human rights and democracy which we share in Europe."

He added that Europe and Russia needed each other, with Russia possessing the energy resources and Europe the technology that Moscow needs.