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Russia's WTO accession to boost trade ties with China: top negotiator

(Xinhua)

09:35, November 18, 2011

MOSCOW, Nov. 17 (Xinhua) -- Russia's accession to the World Trade Organization (WTO) will facilitate its economic and trade cooperation with China and increase Russia-China cooperation, Russia's chief WTO negotiator has told Xinhua.

Maxim Medvedkov, who is also the head of the Trade Negotiations Department within the Russian Ministry of Economic Development, said Russia and China would expand their economic and trade cooperation under the same WTO rules after Russia joins the trade bloc.

Russia and Georgia signed an agreement in Geneva on Nov. 10 under the mediation of Switzerland, removing the main barrier to Russia joining the 153-member trade bloc.

Russia, which has been seeking WTO membership for 18 years, is the only large world economy remaining outside the global trade organization.

Medvedkov said Russia had conducted reforms in various fields in a bid to join the trade bloc.

"We completely changed the system of technical regulations -- to work out and use new and normative technical standards; we adopted a new customs code and changed the customs administration system; we considerably revised laws on veterinary, phyto-sanitary and other measures," the official said.

The reforms, Medvedkov said, brought opportunities for both Russia and China, as the two will trade under the same rules.


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