Nikolai Fedorov learned as a boy selling radishes in a street market in the former Soviet Union that when rivals showed up he had to cut prices. Now as Russia’s agriculture minister he has to instill competition in the nation’s 17.8 million farmers while weaning them off subsidies.
Russia’s accession to the World Trade Organization was all but sealed when a working group agreed on the terms of membership by adopting a package of documents that include its obligations on goods and services.
Russia will introduce an export quota on unprocessed timber after it is accepted into the World Trade Organization, Interfax reported, citing Maxim Medvedkov, the Economy Ministry official responsible for trade talks.
Russia’s government plans to cut subsidies for livestock and grain farmers in half this decade as part of its bid to join the World Trade Organization, the country’s chief negotiator for membership in the group said.
Russia’s government plans to reduce a farmer subsidy of $9 billion a year next year to $4.5 billion by 2017 or 2019, said Maxim Medvedkov , the country’s chief negotiator for membership in the World Trade Organization.