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No alternative in sight to multilateral trading system - Russian PM

Dmitry Medvedev also noted, that there is no alternative to multilateral cooperation and the WTO

BANGKOK, November 4. /TASS/. There is no alternative to multilateral trading systems and the World Trade Organization (WTO), although they have their drawbacks, Russian Prime Minister Dmitry Medvedev said at a final press conference following his visit to Thailand’s capital.

"I think there is no alternative to multilateral cooperation, multilateral trading systems and the WTO," he noted. "There are a lot of drawbacks and a lack of understanding, a number of countries have taken a rather tough stance on the WTO," Medvedev said. "I refer, first and foremost, to the United States, who has been making much attempts to shatter the organization’s foundations, refusing to accept its authority and seeking to change the rules," the Russian prime minister added.

"No matter what we say, commodity flows are subject to common patterns. There are common rules for trade flows, and the international trading system should also be based on common rules," Medvedev emphasized.

He agreed that the system was not perfect but there was no alternative to a multilateral system of regulation.

It is possible to resolve some issues at the bilateral level but international trade requires international regulations, the Russian prime minister noted.

"I am sure that we will eventually realize the importance of such international organizations… In any case, Russia will do everything possible to make it happen," he said.

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Dmitry Medvedev

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