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Russia and South Korea have completed negotiations about WTO
22.09.2004 00:00

The Russian Federation and the South Korea have signed the Protocol about completing negotiations on access of production to the market in the framework of Russias joining of the World Trade Community(WTO). The Protocol has been signed by the head of Ministry of Economy and Trade Development (METD) German Gref on the Russian part and the minister of commerce of MFA of Korean Republic Kim Hen Chon on the part of Korea.
      Mr. Greff thanked Korean partners for very constructive and strenuous work these days. I would like to ensure you that mutual relations between our countries are going to develop further in friendly and understanding atmosphere, said the Russian minister to his Korean colleague.
      Mr. Kim Hen Chon, on his part, expressed hope that investments of the South Korea into Russia will develop further, especially the project of building and an LG complex in Tatarstan.
      As Mr. Kim Hen Chon said, the South Korea hopes that Russia will join WTO in the coming year already. He is sure that the Protocol about access to the service market between the South Korea and Russia will be signed by the end of 2004.
      As Mr. Medvedkov, the director of trade negotiations department of METD of the RF reported before, Russia is planning to complete bilateral negotiations on tariffs in the framework of Russias joining WTO with more than 10 countries. Russia has negotiated about tariffs with 15 countries out of 46. So by the end of October the RF will sign more than half of all the required tariff agreements with 80 per cent of Russian trade turnover falling within these countries.


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