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Russian economy should not rely on protectionist measures

January 30, 2012, 6:31 UTC+3
“Today Russia depends from the world economy much stronger than most other countries,” the premier said
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MOSCOW, January 30 (Itar-Tass) — Russian economy should not rely on protectionist measures, Russian Prime Minister Vladimir Putin said in his article published in the Vedomosti newspaper on Monday.

“In the diversification of economy we cannot rely on protectionist measures. This is not because we entered the World Trade Organization (WTO). We acceded in this organization just because we have an economy, which depends strongly from the foreign market in the production and consumption. But our citizens and our enterprises pay high import duties. The excessive protectionism will always result in stagnation, the low quality and high prices,” the prime minister wrote down.

He recalled that “after the breakup of the Soviet Union Russia was to integrate in the global labour division, where major centres of power and proportions were formed without it, moreover, emerged in the confrontation with the Soviet Union.” “The markets of developed countries turned out to be protected by numerous barriers, which were seeking to protect their interests. The difference in technological standards became one more problem for the integration in the world economy,” Putin noted.

He emphasized that “in these conditions, however, we succeeded to build an economy, which became an integral part of the world economy.” However, Putin acknowledged that “we succeeded to do it mainly thanks to our natural resources” and the country is very dependable from the imports of consumer goods, technologies and sophisticated products.

“Today Russia depends from the world economy, strongly integrated in it, much stronger than most other countries,” the premier said with confidence.

“Russia cannot afford to have an economy, which does not guarantee us either stability, sovereignty or worthy wellbeing,” he believes. “We need a new economy with competitive production industries and infrastructure, the developed sphere of services and the efficient agriculture. An economy, which will function on a modern technological base. We should build an efficient mechanism to invigorate the economy, find and attract enormous material and manpower resources required for it,” Putin underlined. 

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