OREANDA-NEWS. February 20, 2012. Chamber of Commerce and Industry of Russia President Sergey Katyrin has met with U.S.-Russia Business Council (USRBC) President Eduard Verona.

Eduard Verona initiated the meeting.

The Parties discussed issues of mutual interest.

In particular, Eduard Verona shared his impressions from the latest trip of a USRBC delegation to Vladivostok for the evaluation of investment options and business climate of the Primorye territory. The delegation visited large infrastructural sites preparing to host an APEC summit, which will be attended by heads of leading U.S. companies – USRBC members.

They also dwelt on the Russian entry into the WTO. Sergey Katyrin noted that certain Russian industries would benefit from the Russian membership in the organization, among them metallurgy and chemical fertilizer plants. Russia will have an opportunity to take part in the elaboration of new WTO rules and stand up for the interests of its business – earlier the observer status did not allow Russia to do that.

Naturally, there are also industries in which business fears the entry into the WTO. There is still time, and the transitional period of five to seven years (depending on the industry) will make it possible to adapt to the new conditions. It is important for businessmen to study the terms mandatory for WTO member states. We have the goal of assisting businessmen in these studies and we are operating via territorial chambers, Sergey Katyrin said.

Eduard Verona said he was certain that the WTO membership would spur on Russian economic development.

The Parties exchanged opinions about the U.S. business work towards the termination of the Jackson-Vanik Amendment to the U.S. Trade Act of 1974, as well as Russian-U.S. business contacts and bilateral economic cooperation promoted by the U.S.-Russia Business Council to a substantial degree.