Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-285-500"

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"− Russia’s accession to the World Trade Organisation (WTO) means the country will gradually open up to foreign services. Russia has thus agreed to lower its barriers to trade and investment and to grant more favourable treatment than it did previously to foreign service providers in 11 sectors, covering professional services, IT services, construction, postal services, telecommunications, media, transport, distribution, tourism and travel, and financial services. The most noteworthy commitments include the concessions granted in the telecommunications sector, with the phasing out over a four-year period of the current 49% limit on foreign participation in the share capital of telecommunications groups and the decision to apply the terms of the Agreement on Basic Telecommunications Services. In the financial sector, the commercial presence of foreign insurance firms on the Russian market will be authorised, subject to a number of restrictions, nine years after Russia’s accession to the WTO. This vote thus approves the agreement between the European Union and Russia relating to the preservation of commitments on trade in services."@en1

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