EU ready to support Russia's modernization programme

Jun 1, 2010, 12:50 GMT

Rostov-on-Don, Russia - The European Union is ready to support President Dmitry Medvedev's plan to modernise Russia, the bloc's president said on Tuesday.

'The modernization of Russia has to become reality,' President Herman Van Rompuy told a joint ews conference at the end of a two-day EU-Russia summit in the southern city of Rostov-on-Don.

The EU leadership pledged to provide Russia with money to reform its judiciary and fight corruption, in the context of the modernization scheme.

It also offered to help Russia in its efforts to join the World Trade Organization (WTO).

'We don't need a new start-up in Russia, we need to move forward rapidly,' Van Rompuy said.

But the talks produced few concrete agreements, and failed to resolve the thorny issue of visa-free travel.

Medvedev said Russia was ready to end visa restrictions, but noted that some EU members were not ready to reciprocate.

Van Rompuy criticized Russia's human rights record and protectionist tendencies in relation to foreign investment in Russia.

EU officials say Russian tariffs cost EU companies around 600 million euros a year (740 million dollars) in lost trading opportunities. Author: Ulf Mauder