Secretary of State for Business statement on Russia’s accession to the World Trade Organisation
Business Secretary, Vince Cable, said:
“The UK welcomes President Putin’s signing of the Russian Federation’s Protocol of Accession to the WTO which completes their ratification process to join the WTO.
“Russian membership is a big vote of confidence in the WTO as a truly global organisation. We are confident that membership will be good for both Russia and for the WTO. It will also be good for the UK and global economy by making it easier for firms to do business in Russia and by bringing Russia fully into the ambit of the WTO’s mechanisms for ensuring openness and predictability in world trade. Improving the business climate in Russia will be key to its prospects for attracting foreign investment