Russia's Achievements Positive in Efforts to reach Free Trade Goals
An independent APEC report has found that Russia's achievements to reach its free trade and investment targets have been positive. The report also highlights the important role that Russia has in the APEC process.
The "IAP Peer Review Report of the Russian Federation" is a review of the implementation of Russia's Individual Action Plan (IAP) to achieve APEC's free trade and investment goals.
Compiled by Independent Expert, Professor Sung-Hoon Park from the Graduate School of International Studies at the Korea University the report covers thirteen specific issue areas relating to the realization of APEC's goals.
In the report Professor Park praised Russia's moves to achieve APEC's free trade and investment goals in the set timeframe.
"It is the assessment of the Expert that positive developments in Russia have by far outpaced negative developments," Professor Park said in the report.
"Over the past few years, the Russian economy has become increasingly open and substantially more liberal. Tariffs are the action area in which Russia has progressed most substantially towards the Bogor Goals. The trade-weighted average tariff rates of Russia were reduced from 17.7% to 10.8% over the period of 1996-2003."
The report also noted the importance that the Russian Government has placed in Russia's participation in APEC since joining in 1998.
"The fact that the Intergovernmental Commission on Economic Integration has adopted APEC as one of the three priority integration partners suggests that the Russian Government attaches a significant level of importance to cooperation with the APEC economies."
"The activities of Russia in the APEC process have been versatile and have become incrementally important. Especially in the area of facilitation, Russia has been able to strengthen its profile in diverse APEC activities."
The report also makes mention of the Russian Governments efforts to make information for investors and business people available online and in languages other than Russian.
"A number of English-language websites, which provide up-to-date information on the government's activities have been established. Also, many government agencies publish Newsletters on a regular basis, which should contribute to making the Russian trade policy more transparent and Russia's trading partners better understand the state of Russian trade policy regime."
Excerpts from each of the thirteen areas of assessment are now available by clicking here. The full report will be available on the e-IAP website once it has been presented to APEC Senior Officials in Seoul on March 4.
IAPs serve as a roadmap for APEC economies to achieve the Bogor Goals of free and open trade and investment in the APEC region. Agreed in Bogor, Indonesia, in 1994, the target for achieving the Bogor Goals is 2010 for industrialized economies and 2020 for developing economies. Seven APEC Member Economies are having their IAPs' reviewed at the current round of APEC meetings in Korea. This process involves a presentation by the Independent Expert to a meeting of Member Economies followed by an opportunity for these economies to question the economy under review on the details of their IAP. The review of Russia's IAP took place in Seoul this afternoon.