June 25, 2012

Russia's WTO entry boost investment climate in fish sector

Entry to the World Trade Organisation (WTO) will boost Russia's investment climate in the fish industry, Federal Fisheries Agency Director Andrei Krainy said Friday (June 22).

"We need investments in Russian shores above all, and we are in negotiations with several Korean and Japanese companies. The Far East requires the largest investments," he said.

Krainy said earlier that Russia undertook an obligation to reduce the fish import duty to 6% from 10% following its accession, which would be beneficial to foreign suppliers. He also warned that the market could potentially be flooded with counterfeit products.