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Russia signals compromise on log export duties

Author:未知 Source:  Updated:2014-09-29 10:09:14 Clicks:
The Russian government has signalled its intention to find a compromise solution on its high log export tariffs in order to smooth its entry to the World Trade Organisation (WTO). TTJ has seen a transcript from a meeting bet

The Russian government has signalled its intention to find a compromise solution on its high log export tariffs in order to smooth its entry to the World Trade Organisation (WTO).

TTJ has seen a transcript from a meeting between Russian deputy prime minister Igor Shuvalyov and president Dimitry Medvedev in which Mr Shuvalyov said Kremlin officials would visit Brussels to discuss the thorny issue on the eve of an upcoming Russia-EU summit.

Russia’s gradual increase of log export duties has angered log-importing countries like Finland, which used to source large volumes of wood from the country, but now find it too expensive.

“The decision on high prohibitive Russian wood exports was done in order to attract foreign investors inRussia’s timber processing industry,” Mr Shuvalyov.

“Nevertheless, we understand that the entry into the WTO is a more important task, and we will now try to find a compromise solution in order to meet the interests of those investors who have already invested and in order not to stop timber enterprises in EU countries.

“With such proposals we are going to Brussels in the next few days and we will negotiate with EU commissioners and I hope this topic can be definitively resolved.”

In the meeting, Mr Medvedev agreed that a compromise “must be found”, something he had told Finland’s president recently.