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Russia not to give up support for national economy after accession to WTO

November 21, 2012, 18:34 UTC+3
The president believes it would be worth learning from the WTO old-timers which “act with much sophistication and don’t violate anything”
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MOSCOW, November 21 (Itar-Tass) — Russia will not give up support for the national economy after accession to the World Trade Organisation (WTO).

“More complex and flexible regulation instruments including a broad application of protective, compensational and antidumping measures will be needed,” President Vladimir Putin said at a meeting of Russia’s Security Council on Wednesday, November 21.

“Russian businessmen complain over the excessively dragged-out procedures and the indecisiveness of the agencies empowered to take protective steps,” he said.

The president believes it would be worth learning from the WTO old-timers which “act with much sophistication and don’t violate anything”.

“We defended and will defend the interests of our manufacturers,” Putin said, adding that “EU countries, the United States and other WTO member states act likewise”.

“We should work out a set of long-term measures aimed at supporting key industries,” the president said. He stressed that “such measures should be adopted both at the federal and regional levels”.

However, Putin warned that “support should be given mainly to the best production practices, only efficient enterprises and only competitive products that have a future”.

“Conserving technological backwardness, low-quality and low-paid jobs is the road to a dead-end street,” he said.

 

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