Trans-Nationalisation of Russian Bank System is Russian Business' Strategic Goal

"The trans-nationalisation of the Russian bank system is definitely a strategic goal", said President of the Russian Trade and Commerce Chamber Yevgeny Primakov on Friday, when answering a RIA Novosti question where Russian large business's aspirations for trans-national status were grounded.

"The trans-nationalisation is closely connected with the liberalisation of the banking system, which is under way," he said. At the same time, "when Russia joins the WTO it will not be ready to liberalise its banking system at once", Primakov believes. "Evidently, this goal should be achieved gradually", he emphasised.

The President of the Association of Russian Banks, Garegin Tosunyan, also believes that aspirations of Russian large businesses for the trans-national status are well grounded. Today Russia already has trans-national companies, he said. And recent events, especially in the oil and gas industry, have testified to this, he added.

The agreement on co-operation between the Trade and Commerce Chamber and the Association signed on Friday also touches upon the trans-nationalisation of Russian business, Tosunyan reported. He said he was certain that standpoints of both parties on the issue would be "close".