Russia’s Economic Development Ministry plans to grant preferences to domestic producers under state procurement programs to compensate for their losses from lower import duties after Russia joins the WTO, the Kommersant business paper reported on Monday, citing the ministry’s draft resolution.
The list of products that will get special treatment include pork, sugar, agricultural machinery and paper. After Russia joins the WTO this summer, it will have to lower the import duties on these products, opening the door wide open for cheaper imports.
Russian hog farmers have turned to the Russian government with requests to protect the sector against foreign rivals, claiming Russia’s accession to the WTO and the subsequent lowering of import duties will cause mass bankruptcies amongst Russian agricultural producers.
Monday March 5, 2012/ RIA Novisti/ Russia.