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WTO Requirements Unclear to Better Part of Companies in Russia
The requirements and regulations of World Trading Organization (WTO) are unclear to up to 80 percent of Russia’s companies, Severstal CEO Alexey Mordashov said during the anniversary conference of Russia’s Union of Industrialists and Entrepreneurs.
”We are to get ready and to understand what the WTO is,” Mordashov said, adding that Russia’s admission to the WTO will help protect overseas the interests of domestic business, as quite a number of Russia’s goods are subjected to discrimination and pressure on the world markets.
”We are almost in the WTO, and today’s highlight is to be ready for living in conditions of this organization, which calls for learning,” Mordashov pointed out.
When it comes to being almost in the WTO, Mordashov’s words are echoed by Russia’s Economic Development Minister German Gref. Russia will join the WTO till the end of this year, Gref reiterated today at the meeting of Russia’s Union of Industrialists and Entrepreneurs.
At the same time, the minister promised that Russia will hardly feel any aftereffects from the WTO’s entry at the first stage, as none of the negotiating items is critical for the country. The most difficult will be the adaptation period of seven years, Gref forecasted, specifying that the customs administration procedures in the RF “will materially improve” during this period leading to equal competition for all producers of goods and services.
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