Mandelson urges Russia to take 'final steps' into global economy
31 Mar '07
3 min read
Mandelson argued that after 14 years of accession it was "not the time for Russia to despair of the journey and lose faith". He said that WTO membership would impose new obligations on Russia: "The WTO is not like the UN or the G8 -it's not simply about statehood or size. It is a contract based on commercial terms, creating legal obligations to openness and a commitment to transparent and proportionate regulation of trade". But he insisted that it would be "hugely shortsighted to see trade rules as simply binding Russia without benefiting her too".
Mandelson noted: "Russia is not just the largest economy outside of the WTO, it is the only large economy still outside of the WTO. Every other major emerging economy has chosen the economic benefits and international standing that comes with WTO membership, over the deceptive autonomy of standing apart".
Mandelson argued that WTO membership would give the EU and Russia an important framework for controlling the politicisation of trade disputes. "Recent and current frictions in EU - Russia trade show the importance of de-escalating disputes. Trade should never be treated as a political commodity by either side".
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