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Russian Economy Minister urges WTO to make global trade free from sanctions

December 11, 2017, 19:15 UTC+3
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BUENOS AIRES, December 11. /TASS/. Russian Minister of Economic Development Maxim Oreshkin urged WTO members to make the global trade free from sanctions at the ministerial conference and said that sanctions are one of the most aggressive forms of protecting the domestic market.

"We face growth of one of the most aggressive protectionism formats during several recent years. I mean sanctions. We now have sufficient evidence proving that protection of companies and preferences for them on the domestic market is one of causes of sanctions against partners in the WTO. We should make the global trade system free from this degrading phenomenon," Oreshkin said.

A great deal of challenges is in place despite "initiated normalization" in the global trade and growth of about 3%, the minister said. In particular, expansion of isolationist and anti-competition practices poses threat to openness and fairness of the global trade, Oreshkin added.

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