ABSTRACT
The EU enlargement process contributed to the development of new opportunities for co-operation with Russia. One of the alternative forms of rapprochement between the EU and Russia that was considered was an idea to further stimulate economic co-operation and to create the Common European Economic Space (CEES) similar to the European Economic Area (EEA). A stable relationship depends on the capability of partners to share their values. Values are particularly important in dealing with the EU, which traditionally pays special attention to them. If the common values between the EU and Russia have been often considered a sensitive issue of their relationship, the common interests were indeed the locomotive that drove them together. Since the early 1990s the EU and Russia have demonstrated serious progress in the development of their co-operation both in terms of quality and quantity. In 1999 the EU Common Strategy towards Russia definitely demonstrated the EU's concerns about the prospects of democratic reforms in Russia.
