Photo: Denis Balibouse / Reuters
The US withdrawal from world trade organization (WTO), if it takes place, may lead to the termination of the existence of the body itself, said the press Secretary of the President of Russia Dmitry Peskov, quoted by “Interfax”.
“Of course, the existence of, say, the backbone of the world of economic organization after the largest economy of the globe it is a big question, obviously,” — said the official representative of the Kremlin.
According to him, the decision, whatever they may be, is “an internal affair of the USA”. Russia remains a member of the WTO “with all the ensuing consequences”.
August 13, U.S. President Donald trump said that considering the country’s withdrawal from the WTO “if necessary”. The current workings of the organization he called the ineffective and unjust, helping others to enrich themselves at the expense of the United States. As an example he cited China, whose economy has grown significantly after the entry into WTO in 2001.
According to trump, after he came to power, the United States began to win the majority trade disputes and litigation in the WTO, while before his presidency things were different.
At the end of June, European Commissioner for trade Cecilia Malmstrom said that the EU authorities think that to create the court of arbitration outside the WTO. Negotiations on this matter are underway with Canada.
Russia is a member of WTO since 2012.
Video, photo All from Russia.