Russia's active accession to the WTO is expected to alleviate the excessively high timber tariffs

The Russian government recently revealed its intention to find a compromise method for excessively high timber tariffs so that Russia can enter the World Trade Organisation (WTO) smoothly.

A record of a meeting conducted by Russian Vice President Igor Shuvalyov and President Dimitry Medvedev shows that Shuvalyov stated that Kremlin officials should go to Brussels and discuss the topic at the Russian and EU summits.

The gradual increase of timber export tariffs in Russia has caused Finland and other major Russian timber importers to feel powerless.

“We have already put in place a number of measures aimed at the excessive export tariffs on timber to attract foreign investors to invest in the Russian wood processing industry,” said Shuvalyov.

“In spite of this, we also understand that entering the WTO is still a very arduous task. We will try to find a compromise solution to meet the requirements of those businessmen who have already invested in Russia.”