--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

The Ministry of Foreign Affairs
The Ministry of Foreign Trade and Economic Cooperation
Permanent Mission of the People's Republic of China to the UN
Permanent Mission of the People's Republic of China to the United Nations Office at Geneva and other International Organizations in Switzerland
Foreign Affairs College
Institute of American Studies Chinese Academy of Social Sciences
EU Formally Recognizes Russia as Market Economy Country
The European Union EU) on Thursday said it had formalized the recognition of Russia as a market economy in the context of trade defence by amending the European Commission's (EC) anti-dumping and anti-subsidy laws.

The new regime will be applicable to all cases initiated after Nov. 8, 2002 when it enters into force, according to a press release issued by the EU's executive arm Thursday.

"The proposal to graduate Russia into the market economy category followed European Commission President Prodi's declaration during the last EC-Russia summit in May 2002 and is anacknowledgment of the important progress achieved in Russia in respecting market economy principles," the press release said.

Russia will be treated on an equal footing with all other market economies in anti-dumping investigations. In practical terms, instead of using proxy costs and prices from a third country, Russian companies' own costs and prices will be used for the purpose of calculating dumping margins.

It equally implies that Russia will be subject to anti-subsidy provisions applicable to market economy countries.

Soon after the EC-Russia summit in late May, the EC issued a press release stating that it is ready to recognize Russia as a market economy country. The latest move by the EU is regarded as an indication of strengthening relations with the EU and Russia and it would facilitate further Russia's efforts toward World Trade Organization membership.

(Xinhua News Agency November 8, 2002)

US Announces Market Economy Status for Russia
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688