Russia may complete WTO talks in ’04

Russia may still be able to complete negotiations on joining the World Trade Organisation (WTO) by the end of next year, United States comme...

Russia may still be able to complete negotiations on joining the World Trade Organisation (WTO) by the end of next year, United States commerce secretary Donald Evans said on Wednesday.

‘‘It’s unlikely it’s going to happen in 2003. You’re into 2005 but I would not rule it out in 2004 yet,’’ Evans said. ‘‘We are being supportive in trying to move the process so that Russia understands the rules, laws and regulations that have to be implemented in order to accede to the WTO,’’ he added.

Farm subsidy issue could undermine FTAA

OTTAWA: Differences over farm subsidies could also impair efforts to create a Free Trade Area of the Americas (FTAA), Canada’s Trade Minister Pierre Pettigrew said on Tuesday. ‘‘It would seem to be difficult for the US to make concessions on agricultural subsidies without the European Union making the same concessions multilaterally,’’ he said. (Reuters)

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Russia’s chief negotiator said last week that the failure of a global WTO summit in Cancun, Mexico, may make it easier for Moscow to join the international trade club without having to liberalise its own trade rules.

Russia had hoped to complete the entry talks this year but has acknowledged this is no longer possible. WTO negotiators are pressing Moscow to open up Russia’s banking, insurance and telecommunications markets. EU negotiators see Russia’s low domestic prices for gas and electricity as a significant stumbling bloc in the accession talks.