Russian State Duma speaker warns Ukraine increasingly turning into terrorist stateRussian Politics & Diplomacy March 24, 11:06
Marine Le Pen sees no reason for French leaders' hostile attitude towards RussiaWorld March 24, 10:41
Russian Paralympians prepare for PyeongChang 2018 despite suspensionSport March 24, 9:23
Terrorist gang eliminated in foiled attack on National Guard in ChechnyaWorld March 24, 9:10
Senior Pentagon official calls for information strategy on RussiaWorld March 24, 8:42
South Korea warns North Korea may hold new nuclear test by end of MarchWorld March 24, 7:20
Russian-US experiment to simulate outer space mission named SIRIUSScience & Space March 24, 6:20
Russian research agency selects 10 bids in ‘Flying Car’ contestScience & Space March 24, 5:41
Belarus opens case into plotting riots, 26 suspects detainedWorld March 24, 4:30
MOSCOW, February 18. /TASS/. The world trade rules will be mainly regulated by regional agreements instead of WTO standards within the nearest 15 years, Chairman of the Eurasian Commission Viktor Khristenko said Wednesday.
"I’m thoroughly convinced that the future lies in the integrated regional structures," Khristenko said.
Within the next 15 years, around 60% of the world trade will be regulated by regional preferential agreements instead of WTO standards, he said, adding that "this is a sustainable trend, which reflects discontent towards WTO regulations and rules and impossibility to alter them."
Chairman of the Eurasian Commission also said that in recent decades the world has been influenced by two major trends — globalization and regionalization, which have been going hand in hand, sometimes "colliding with one another." However, the 2008 crisis revealed the problems, Khristenko said, adding that "it was not a financial crisis, but it was a crisis of globalization, as by that moment it had become clear that there were no effective mechanisms to manage the global processes." This defined the emerging of regional integrations, he added.