A white book about the perspective of a common European economic

This essay presents the main conclusions of a study on the Common European Economic Space led by the Russian-European centre for the Economic Policy (RECEP) set up by the European Union in 1995. The RECEP White Book aims at showing that the CEES can represent an important lever of sustainable development for Russia, if it is not only conceived as a simple free trade area. Statistical studies show the advantages in terms of trade flows increase and of welfare increase which Russia should derive from its membership to such an agreement. Institutional reforms (company laws, competition policy…) are however necessary, conforming to « community acquisitions », to improve markets transparency and efficiency. Russia will have to face numerous challenges, notably concerning the reorganization of banking system and industry. Another stake will also be to make the economic space of Russia more homogeneous. –Summary AFRI-2003