Russian negotiators are ready to accept an increase of 25% in the number of foreign banks operating in Russia during the next round of World Trade Organization talks
Published:
5 March 2004 y., Friday
Russian negotiators are ready to accept an increase of 25% in the number of foreign banks operating in Russia during the next round of World Trade Organization talks later this month. Central Bank Deputy Director Vladimir Khrebtov said 'now we are offering to double the quota.' Currently, the quota of foreign banks operating in Russia is set at 12%.
Khrebtov says Russia would continue to insist on the quota, but might make some concessions in its size. 'It seems to me that we should find agreement,' he said. At the same time, he said the number of foreign banks operating in Russia would not grow to 25% in the short term because foreign capital doesn't yet believe the business environment is stable and predictable in Russia.' The question of the prohibition on opening branches of foreign banks in Russia is also scheduled to be discussed during the next WTO round. Khrebtov says Russia's position won't change on this question.
In addition, the question of the WTO's opposition to a new Russian law on currency regulation and control is also up for discussion. Khrebtov said the law provides requirements for reserving capital operations, which foreign partners don't agree with.
Šaltinis:
rosbaltnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
How will economic policies adapt in 2020 when a quarter of the EU population is over 65? Can economics better predict how banks will react to credit crunches in the future, and what their impact will be on the wider economy?
more »
The EBRD is supporting the development of one of the first modern food retail chains in Turkmenistan with a $1.9 million equity investment in Ak Enar.
more »
While on a working visit to Ukraine, President of the Republic of Lithuania Dalia Grybauskaitė has underlined that Ukraine might become a very important energy partner for Lithuania and for the whole European Union but only transparent and open relations will lead to success in this area.
more »
On 25 November in Vilnius, Lithuania’s Vice-Minister of Foreign Affairs and President of the Nordic Investment Bank discussed the issues of the Northern Dimension Partnership on Transport and Logistics (the secretariat of which is being established at the Bank), issues of the NIB cooperation with Lithuania and perspectives of the NIB’s activities in the country.
more »
The European Bank for Reconstruction and Development has adopted a new strategy for the Russian Federation.
more »
Consumer protection requires transparent and consistent trade rules, believe MEPs.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 76 million) to the South Moravia Region for co-financing the Region’s priority infrastructure projects supported by the EU Structural and Cohesion Funds over the period 2007 – 2013.
more »
Seeking to strengthen business partnership between Israel and Lithuania the Israel and Lithuania Chamber of Commerce has been recently established in Lithuania.
more »
AB DnB NORD Bankas, notifies that on 24 November 2009, the member of the Management Board and Executive Vice-president of AB DnB NORD Bankas dr. Jekaterina Titarenko has been appointed as Chief Financial Officer of Bank DnB NORD Group.
more »
Parliament gave its backing on Tuesday for €400 million-plus in budget aid to Serbia, Bosnia and Herzegovina, Armenia and Georgia.
more »