The European Union's trade chief Peter Mandelson
Photo: Reuters
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Russia to Join WTO Under New Terms
The working team in Geneva has agreed on the new wording of its report that will lay foundation for Russia’s accession to the WTO, a source with Russia’s delegation said.
The success of another round of the multiparty negotiations hasn’t been affected by Georgia that demands from Moscow to recall the support for Abkhazia and South Ossetia, the source said. Agreeing on the text of the report has ensured the backing of Russia’s trading partners and notably advanced negotiations. The consulting meetings will continue till May 14.
Russia counts on being able to join the WTO in the second half of this year. But quite a few still oppose this membership inside the country, apprehending it to cause considerable problems for Russia’s entrepreneurs. So, the government spares no effort to win material concessions that will defend the local business.
On the other hand, not every western nation welcomes Russia’s advance towards the WTO, saying the country’s economy isn’t ready for this membership. According to European Commissioner Peter Mandelson, Russia is yet to adjust a few branches of economy to the WTO standards and all changes cannot happen overnight.
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