The Phaserl


Russia seeks to remove WTO restrictions

from The BRICS Post:

Russia says it will work with the World Trade Organisation (WTO) to lift restrictions currently imposed on local companies, and to support its domestic producers.

“WTO membership places several obligations on us. We are going to actively use this instrument [WTO] to protect the interests of our domestic producers and exporters,” Economic Development Minister Alexei Ulyukayev said at the 12th Investment Forum Sochi-2013, which concluded Sunday.

Russia joined the WTO in 2012, and while it was hoped that expert opinion in business and competition policy would positively impact local markets, it was domestic producers who ended up suffering losses because of the organisation’s restrictive measures.

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