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Russia concludes trade talks with Switzerland on WTO access
28 Jan '06
1 min read
Bilateral trade talks between Switzerland and Russia ended with a positive note that Russia could access to the WTO, informed Joseph Deiss, Swiss Economy Minister.
Russia needs the consent of United States, Australia and Colombia only out of 149 member countries of WTO to complete the accession process.
Deiss and his Russian equivalent German Gref signed the agreement at annual Davos meeting of political and business leaders.
According to the agreement, Russia would bring down import duties for Swiss chemical products, textiles, machinery and watches.
Swiss banking and insurance would be given more access to Russia; however Swiss firms would not be able to provide services through subsidiaries.
Russia hopes to finish all bilateral talks for WTO entry early this year.
Senior Russian trade negotiators have said they hope to finish all bilateral negotiations for WTO entry early in 2006.
Russia needs the consent of United States, Australia and Colombia only out of 149 member countries of WTO to complete the accession process.
Deiss and his Russian equivalent German Gref signed the agreement at annual Davos meeting of political and business leaders.
According to the agreement, Russia would bring down import duties for Swiss chemical products, textiles, machinery and watches.
Swiss banking and insurance would be given more access to Russia; however Swiss firms would not be able to provide services through subsidiaries.
Russia hopes to finish all bilateral talks for WTO entry early this year.
Senior Russian trade negotiators have said they hope to finish all bilateral negotiations for WTO entry early in 2006.
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