World Trade Organisation: Russia’s entry may be delayed by years

ST PETERSBURG: Russian accession into the World Trade Organisation (WTO) could be delayed by several years if there was no agreement on key issues by the end of July, Russia’s economy minister said on Saturday. Russia aims to become a member of the trade watchdog in December but Elvira Nabiullina said that the outstanding issues included agriculture, car assembly regime as well as controls on the import of food and livestock. “We need to agree with our partners on three large issues before the end of July. If we do not manage to do it, from my point of view, the process might take some more years,” Nabiullina told reporters at St Petersburg Economic Forum. Sources close to negotiations process said earlier this year that elections in Russia and the US would stall the Russian accession process if there was no conclusive agreement by the second half of 2011.

Published in The Express Tribune, June 19th, 2011.