MAGNITOGORSK, Chelyabinsk Region, Jul 15 (PRIME) — The Russian government wont make concessions on the countrys industrial assembly regime in talks over Russias accession to the World Trade Organization (WTO), Russian Prime Minister Vladimir Putin said Friday.
In its ongoing accession talks, Russia faces requirements by the European Commission and the U.S. to change the conditions of the countrys industrial assembly regime, Putin said.
Under the current regime, foreign companies are to assemble at least 300,000 cars per year in Russia and increase the localization level of production to 60%.
Russia is the only major economy still not included in the WTO and has been in negotiations to join the organization since 1994. The country is expected to join the WTO later this year, according to earlier statements by Russian officials.