Russian firms facing tougher competition because of WTO membership - minister
MOSCOW. Nov 21 (Interfax) - Russia's accession to the World Trade Organization has brought about an increase in imports into the country and put Russian companies in a more competitive environment, but Moscow is putting "an adaptation plan" into practice, the economics minister said.
"We can already sense growing competition in the markets. In October we recorded growing imports, including those on which we reduced our level of customs protection in joining the WTO," Andrei Belousov told reporters after a meeting of the Russian Security Council that focused on WTO-related issues.
Nonetheless, "nothing terrible is happening, no catastrophe, no apocalypse, no catastrophic scenario - nothing of the kind is the case, though there is more competition," he said.
"What conclusions can be drawn from that? First of all we have an adaptation plan. We are carrying it out and must speed up carrying it out," Belousov said.
A plan has been put together to support sectors that the increased competition has affected most, such as the automotive, timber and pharmaceutical industries, agriculture and agricultural machinery manufacturing. The plan needs no additions, the minister said.
Secondly, there is a great deal of ignorance about WTO affairs in top echelons of government, and so senior officials will very soon take brief courses on the subject.
One more task is to speed up setting up a support system for Russian exports, Belousov said. Membership in the WTO gives more rights to Russian exporters.
