(MENAFN- Kuwait News Agency (KUNA)) The United Sates on Wednesday said news of Russia joining the World Trade Organization means good news for American companies and workers.
"We're strong and long champions of Russia coming into the WTO," State department spokeswoman Victoria Nuland told reporters, indicating the news will boost bilateral trade.
"We think it's not only good news for Russia; we also think it's good news for American companies and workers because it's going to improve our own access to one of the world's fastest-growing markets, and you've heard both President Obama and President Putin and President Medvedev before him talk about the fact that we don't have the volume of trade between our two countries that we should have given the size of our economies. So we hope this will be a good step," Nuland said.
She noted that joining the decision will also boost Russia's economy.
After 18 years of negotiation, Russia on Wednesday entered the WTO, which restricts import duties and subsidies for international trade.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.