Prime Minister Vladimir Putin said Friday that a compromise on the issue of export duties on Russian round timber is possible after the country joins the World Trade Organization.

"We extended the 2010 terms [for the duties] to 2011; in the future, compromises are possible should Russia become a full-fledged WTO member," Putin said after talks with his Finnish counterpart Mari Kiviniemi.

Since 2009, the export duties amount to 25% of customs value but no less than 15 euros per cubic meter. The government planned to raise the duties to 80% of customs value but no less than 50 euros per cu m in 2010, but the decision was postponed mainly due to objections from Finland.

Putin said Russia will seek solutions that "would not harm Finnish partners."

Russia and the EU this week agreed that export duties on Russian timber will be lowered from the current 25% but will remain above zero.

December 10 2010

Source: en.rian.ru

• USTR Makes Findings and Proposes Action in 60 Section 301 Investigations Relating to Failures to Take Action on Trade in Forced Labor Goods
• [VCCI] The US officially initiates a Section 301 Investigation into Vietnam on Intellectual property
• General Secretary and President To Lam's working visit to three ASEAN countries: Demonstrating the stature of proactive and constructive diplomacy.
• Viet Nam accelerates innovation drive as skilled workforce becomes key to science and technology growth
• The US is increasing controls on AI chip exports