Russia is failing to fulfill its obligations as a World Trade Organization member months after joining the global trade body and may face legal action as a result, European Union Trade Commissioner Karel De Gucht said.
Russia’s economy may slow after it joins the World Trade Organization, while the government hopes to use its membership to defend the interests of state-run OAO Gazprom, said Maxim Medvedkov, Russia’s chief WTO negotiator.
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.
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 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.