Latvia concludes bilateral negotiations with Russia on its market access for trade in goods in the context of Russia's accession to the WTO [16.04.2004]

Today, April 16, in Brussels, signing the bilateral protocol, Latvia formally concluded bilateral negotiations with Russia on market access for trade in goods, in the framework of Russia's accession to the World Trade Organization (WTO). The results of negotiations were approved by the Cabinet of Ministers of the Republic of Latvia on 06/04/2004.

Russia is an important partner of economic cooperation to Latvia and holds the first place in trade with the third countries (outside the European Union). In 2003 Russia was in taking the seventh position in the export volume, and the third in imports.  

With the conclusion of bilateral negotiations on market access for trade in goods, Latvian entrepreneurs, with the date of accession of Russia to the WTO, will gain beneficial market access conditions for exporting goods to Russia, particularly with regard to such export significant goods as fish and fish products, timber and timber products, pharmaceuticals, textiles, cosmetics, metal and steel products, etc.

Since 1999 Latvia have been participating in the negotiations of Russia's accession to the WTO. Negotiations are both multilateral – analyzing and evaluating the compatibility of Russia's legal acts with the WTO norms, and bilateral - agreeing on specific commitments with regard to market access conditions in trade in goods and services.

Joining the European Union on May 1, Latvia, considering the provisions of Article 133 of Treaty Establishing the European Union on competence in common commercial policy, will forward the process of ongoing negotiations with the WTO acceding countries to the European Commission. This includes also the remaining open questions in the Russia's accession to the WTO – multilateral negotiations and bilateral negotiations on market access for trade in services.

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