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Medvedev sets task of fighting protectionism in world trade

November 13, 2011, 13:59 UTC+3
“We are ready now to join the WTO and not to use redundant protective measures,” the president noted, adding that “the ball is not in our yard”
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HONOLULU, November 13 (Itar-Tass) — President Dmitry Medvedev deems it necessary to fight protectionism in world trade as well as to cut down the state’s influence on the economy.

“One of problems we are also tackling, is to play down the state’s influence on the country’s economy,” the Russian president said in a special video address to members of the APEC Business Summit.

“Russia has launched a new stage of privatisation. Incidentally, it will take place in the oil and infrastructure sectors, that is in the most important economic sectors,” he noted.

“It is done, above all, to raise efficiency of the economy and development of competition,” he said.

Medvedev also singled out such an aspect as protectionism and free trade. “Indeed, protectionism has become one of threats to efficiency of the world economy,” the head of state claimed.

“Russia is the only major country which hasn’t regrettably joined the WTO. And it would seem that there is a great quantity of opportunities to impose customs restrictions. But we don’t want to do this,” Medvedev underlined.

“We are ready now to join the WTO and not to use redundant protective measures,” the president noted, adding that “the ball is not in our yard”.

“We hail the arrival of foreign investors at Russian companies, including mining firms,” Medvedev said. “The list of restrictions that existed, was cut substantially,” he continued.

Medvedev noted that Russia recently set up the Russian Fund of Direct Investments whose council will incorporate representatives of world investment institutions. “We shall determine strategy along with them,” he noted.

“The situation in the global economy is far from ideal, but Russia is now, I hope, more adamant to a crisis that in 2008,” he added.

 

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