Russian President Vladimir Putin said in Moscow on Wednesday
that Russia's bid to enter the World Trade Organization (WTO)
should not be used as a bargaining chip to push Russia on other
issues.
"The negotiations for letting Russia into the WTO should not
become an instrument for bargaining over questions that have
nothing in common with the activities of this organization," Putin
said in his annual state of the nation address at the Kremlin.
Putin's remarks were directed to the United States, which barred
Russia's entry to the 149-member global trade body.
The Russian-US talks have centered on financial services. One of
the sticking points is a US demand that foreign banks be allowed to
open directly-owned branches in Russia.
Putin said the entry negotiations should only be based on terms
that serve Russia's economic interests and Russia's economy has
become more open than some WTO members.
Russia, the largest economy still outside the Geneva-based WTO,
has been negotiating to join the global trade body since 1993. It
has had to embark on a major set of legislative reforms to fall
inline with WTO rules.
Entry to the WTO requires the signing of bilateral deals with
all states that demand them as well as negotiating directly with
the global trade body to ensure that a candidate's domestic
commercial regulations conform to WTO rules.
(Xinhua News Agency May 11, 2006)
