Arab Today, arab today russian govt may help industries hurt by wto entry
Last Updated : GMT 12:19:12
Arab Today, arab today
Arab Today, arab today

Russian govt may help industries hurt by WTO Entry

Arab Today, arab today

Arab Today, arab today Russian govt may help industries hurt by WTO Entry

Petropavlovsk - Ria Novosti

The Russian government may provide support for industries which may face losses after the country\'s accession to the World Trade Organization (WTO), First Deputy Prime Minister Igor Shuvalov said on Tuesday. \"The Agriculture and Economic Development ministries are examining the industries which may suffer a negative impact due to the ratification of a protocol for Russia\'s accession to the WTO. It is necessary to ratify the protocol by the end of this July,\" Shuvalov told reporters in Russia\'s Far East city of Petropavlovsk-Kamchatsky. He said that some enterprises and even industries might become less competitive. \"For example, sugar beets. What will happen with sugar production in Russia if we [are able to get] sugar cane? Or agricultural machinery building. How much damage will agricultural machinery makers be incurred after the board\'s opening?\" Shuvalov added. The minister also said the support would be provided only if problems in economic activity of enterprises or industries would arise as a consequence of Russia\'s joining the WTO. Shuvalov said that the ministries would make a report about all problems in the industries linked with country\'s WTO accession by this March and the government would work out bills to solve them by May 2012. Russia joined the world trade hub in December 2011 after 18 years of talks.

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