Russia Joins WTO: US

The agreement of the United States and Russia for WTO entry could be made in the course of the following few weeks, U.S. Deputy Commerce Secretary David A. Sampson said yesterday, Kommersant reported today.

The fact that Russia?s delegation has faced no new proposals of the United States allows to conclude that the demand for legalizing bank affiliates in Russia could be dropped in the end. To be more precise, Russia may join WTO simultaneously with Ukraine, i.e. in November 2006.
It was Alexander Shokhin, president of Russia's Union of Industrialists and Entrepreneurs, who first announced Tuesday that the United States was ready to expediently agree with Russia on WTO negotiations. The respective agreement with the United States could be sealed before May 2006, Shokhin said.

U.S. Deputy Commerce Secretary David A. Sampson, who is in Moscow now, confirmed Shokhin?s words Wednesday. The agreement could be made during few weeks, Sampson specified, adding though, that it would need ratification of the U.S. Congress.

Maxim Medvedkov, who heads a trading negotiations department at Economic Development and Trade Ministry of Russia, was cautious when commenting on Sampson?s statement. We hope the wishes of American party would be shaped as definite proposals allowing us to reach compromise as fast as possible, Medvedkov said.

Meanwhile, it looks like Russia has received no new proposals from the United States concerning disputed issues (lifting restrictions for opening bank and insurance affiliates in Russia; adopting a program against violation of intellectual property right; reducing subsidies in agriculture). More likely than not, Russia has yielded to trimming import duties on aircraft that was lobbied by Boeing.