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WTO entry should teach how to manage cost of goods - Medvedev

May 22, 2013, 12:26 UTC+3

However, he noted that the accession to the WTO has allowed Russia to “live according to general rules.”

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MOSCOW, May 22 (Itar-Tass) - Russian Prime Minister Dmitry Medvedev believes that Russia’s accession to the World Trade Organization (WTO) should teach the country how to manage the cost of goods. He expressed this view in an interview with the Komsomolskaya Pravda newspaper.

“Many of our products are not competitive because of the fact that we are increasing costs. And we must learn how to control them to make out products sell well,” the government head said. He cited China as an example of such successful activity - the country “has flooded the whole world with its products” because of their low cost. “And we also have to make efforts to make our products sellable. We can produce many high quality things. But if they are more expensive than not only Chinese, but also European products, we are unlikely to sell anything,” Medvedev said.

However, he noted that the accession to the WTO has allowed Russia to “live according to general rules.” “Our products not now, but maybe in a year, two, three or five years will be meeting the basic criteria existing in the WTO member countries,” the prime minister said.

Speaking about the consequences of Russia’s entry into the organisation, he also concluded that “nothing has collapsed.” “Even the most vulnerable sectors such as agriculture are alive,” he stressed. The RF prime minister also said that “now the main challenge for the rural areas is not the WTO accession, but the harvest prospects, after all.” “Because the agrarian business is highly dependent on what decisions are made in heaven. On the sun and rain,” Medvedev explained his position.

“Nevertheless, the rural areas should get a stronger state support,” he admitted, adding that he meant primarily producers of pork and poultry meat. “We currently almost 100 percent satisfy our domestic demand. We do not need either “Bush legs” (chicken drumsticks) any more or, in some cases, even the meat produced in other countries. Although it is always important to maintain a certain balance, so that the price depended not only on internal factors,” the RF Cabinet head believes.

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