f exports fall under the preferential system. The EU is one of the main investors in the Russian economy, and 80% of joint ventures are companies with EU capital. 2/3 of the total number of Russian companies with operations abroad also function in the EU. EU exports to Russia in 1999 amounted to $20.8 billion, and Russian exports to the EU were worth approximately $21.5 million. The EU share in the total volume of capital investment, according to different calculations, ranges from 40%-60%. For Russia, all this suggests an economic basis for closer partnership with the EU and for participating in the integration process in Europe. However, the form and the terms of such participation are not fully clear and in many respects will depend on the evolution of both Russia and the European Union. The EU is presently facing important tasks. One of its main goals is to further the internal integration process and incorporate new members. The EU has become the core of a new economic structure embracing almost all European countries. For most of the people of Eastern Europe, EU accession is the aim uniting former Communist and anti-Communist alike. In its September 1995 meeting in Madrid, the EU Council decided that in early 1998 negotiations on accession should begin with Central and East European countries (CEECs) wishing to become members. The European Union decided on the first wave of expansion during the Summit in Strasburg in July 1997. The first wave countries, i.e., Poland, Hungary, the Czech Republic, Estonia, Slovenia, and Cyprus, began accession negotiations with Brussels in November 10, 1998. In Prague on October 14, 1999 the European Union has announced a radically new approach to the process of enlargement into Central and East Europe. At the core of this new strategy was the decision to recommend the start of negotiations in 2000 with six more countries: Slovakia,...
