#9
Financial Times (UK)
December 17, 2001
Letter
EU backs Russia's accession to WTO
From Mr Pascal Lamy and Mr Chris Patten.
Sir, Contrary to what Prof Carl B. Hamilton argues (Letters, December 12), the European Union has been crystal clear in pressing a positive, broad and ambitious economic agenda with Russia. We are fully committed to Russia's accession to the World Trade Organisation. As Russia's largest trade partner, the EU has led the way accelerating negotiations in recent months and we expect to make decisive progress in 2002.
The EU is more open to Russian exports than any of its other trading partners. With EU enlargement, we will account for no less than 50 per cent of Russian exports! Rather than limiting Russian imports through quotas, we will grant them enhanced and improved unilateral preferential access through the recently approved General Scheme of Preferences (GSP) system. At a time when the siren calls of protectionism are getting louder in the US, we are currently negotiating access for Russian steel into the EU.
Underpinning the ambitious goal of creating a common European economic space is a determination to support and help in Russia's efforts to improve its domestic economic legislation and create strong independent regulatory authorities. The EU may welcome as many as 10 new members in 2004, many of them significant economic partners for Russia. Therefore Russia has every interest in aligning itself with the rules and standards of the EU single market. In so doing, it will significantly increase its export potential and reap the benefits of the increased investor confidence in sectors such as financial services, telecoms and energy.
A free trade area is indeed an agreed possible objective of our bilateral agreement with Russia. However, Russia first needs to integrate into the world economy through WTO membership, to restructure its economy further and to establish strong domestic rules that will trigger the development of broad, competitive manufacturing and services sectors. The EU is ready to play its full part hand-in-hand with Russia in delivering on the ambitious task it has set itself and in building an ever closer relationship.
Pascal Lamy, EU Trade Commissioner, Chris Patten, EU External Affairs Commissioner
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