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Govt to support industries that may suffer from WTO membership - Shuvalov

“Everybody will make gains, there will be no losers. It’s no use telling oneself and the others various scare stories,” he said

Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

GENEVA , December 17 (Itar-Tass) —— The Russian government will support those branches of the economy that may be harmed as a result of Russia’s accession to the World Trade Organization (WTO), First Deputy Prime Minister Igor Shuvalov told the media on Friday.

“Everybody will make gains, there will be no losers. It’s no use telling oneself and the others various scare stories,” he said. “The government will support such industries with all means and methods permissible in the WTO.”

“So far not a single industry has been able to show that the WTO membership will lead to negative effects,” Shuvalov said. “But if there are any, we shall take the corresponding measures.”

He agreed that “complexities” might be possible for some industries, and the manufacturers of some groups of goods would experience greater competition. But Russia still has some time to spare, about six months, and “if the transitional period is not enough, then there will be sometime to neutralize such obstructions,” Shuvalov said

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