|Russia Builds Trade Protectionism Economy|
|by Tom McGregor||Fri, Jan 3, 2014, 12:56 AM|
Russia is building an economy of strong trade protectionist measures with staunch support for 'Made in Russia' goods and services.
The Moscow Times reports that, "Russia enacted more protectionist trade measures in 2013 than any other country, leaving it as the world leader in protectionism, according to a new study. Furthermore, Russia and its partners in the Customs Union, Belarus and Kazakhstan, accounted for a third of all the world's protectionist steps in 2013, said the study by Global Trade Alert, or GTA, a leading independent trade monitoring service."
Many countries have indicated stronger support for trade protectionism with Russia leading the way.
According to the Moscow Times, "A total of 78 trade restrictions, almost a third of all those enacted by Group of 20 countries, were imposed by Russian legislators last year, the study said. With the new restrictions, Russia now has 331 protectionist measures in place, or a fifth of all protectionist policies registered worldwide."
GTA coordinator Simon Evenett is quoted as saying that, "The (Russian) Customs Union was responsible for 15 times as many protectionist measures as China while only having an eighth of the population."
To read the entire article from the Moscow Times, link here:
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