U.S. & Russia Hope to Resolve WTO Accession by Fall, Discuss Poultry Deal, Etc.
The White House has posted remarks by President Obama and Russian President Medvedev during a joint June 24, 2010 press conference, during which they discussed Russia’s accession to the World Trade Organization, their agreement on U.S. poultry exports to Russia, and other trade issues.
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The Departments of Commerce and Agriculture have also issued press releases on the U.S.-Russian talks.
Working to Finalize Russia’s WTO Accession by End of Sept 2010
The two Presidents announced that they are instructing their negotiators to try to come to terms with the technical issues that remain on Russia’s accession to the WTO by the end of September 2010.
President Obama stated that 90-95% of the accession issues have been resolved, but noted that the remaining 5-10% are difficult issues that are going to require significant work. In addition, some of those issues require action by the Russian government such as certain international standards that require modifications to Russian laws.
Poultry Deal Signals Russia’s Seriousness about Joining WTO
The two sides also discussed their June 24, 2010 agreement on poultry that once signed, will permit the resumption of U.S. poultry exports to Russia. (See ITT’s Online Archives or 06/25/10 news, 10062536, for BP summary of the agreement.)
President Obama stated that Russia’s effort to resolve the issue of U.S. poultry exports to Russia, which has historically been the largest export market for U.S. poultry, sends an important signal about Russia’s seriousness in achieving WTO membership.
Private Sector Deals Reached in Aviation, Automotive Engineering, High Tech
In addition, Presidents Obama and Medvedev discussed some of the private sector deals reached during the talks, from aerospace and automotive engineering to the financial sector and high technology.
These include the sale of 50 Boeing 737 aircraft to Russia, an expansion of a joint venture between U.S. engine manufacturer Cummins and Russian truck builder Kamaz to allow production of a new, low-emissions diesel engine in Russia; and cooperative and investment agreements between certain Silicon Valley firms and Russian high tech companies.
(See ITT’s Online Archives or 06/22/10 news, 10062217, for BP summary of Senators calling on the President to address Russian trade barriers on U.S. poultry in advance of the talks.)
Additional White House press release available here.