Russia WTO accession to strengthen bilateral commercial relations

28 Sep '07

3 min read

The U.S - Russia Business Council (USRBC), a trade association representing some 300 U.S. and Russian corporations welcomed comments by Russia's newly appointed Minister of Economic Development and Trade Elvira Nabiullina underlining her support for Russia's WTO accession and intention to honor commitments agreed to in the accession negotiations.

In comments Wednesday, Minister Nabiullina said, "We are striving to fully integrate the Russian economy into the global market and believe that joining the WTO is necessary to ensure future economic expansion." She added that, "Russia will uphold all the agreements it has already reached during the negotiations to join the WTO."

USRBC President Eugene Lawson said, "USRBC and its members fully support Russia's WTO accession and very much would like to see Russia a member of the rules-based trading system at the earliest possible time."

"We are heartened by news of recent progress at the bilateral and multilateral levels of discussions, and we applaud the negotiators from both countries who have been working tirelessly to move this process forward. A good amount of work still remains on some tough issues, but the commitment is there, and we urge Russia to continue this hard work to make its accession a reality."

USRBC is leading the Coalition for U.S.-Russia Trade a broad-based group of U.S. companies and trade associations committed to strengthening U.S. Russian commercial ties, and preserving the competitiveness of U.S. firms, farmers, and workers in the Russian market.

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