European Union to recognise Russia's market economy status in early autumn

The European Union is highly likely to recognise Russia's market economy status in early autumn, Russian Deputy Prime Minister Viktor Khristenko was quoted as saying on Monday. He made this statement following a meeting with representatives of the EU business club and Danish Ambassador to Russia Lars Vissing. Denmark will be presiding in the EU for the next six months.

According to Khristenko, at the meeting "the officials reiterated that the European Union will do all possible for recognition of Russia's market economy status by this September." The agenda also included the issue of Russia's accession to the World Trade Organisation /WTO/. EU businessmen would like to reach "a solid compromise" with regard to Russia's services sector. In particular, this refers to the banking sector where they are planning to make investments, but are still waiting for Russia to suggest a compromise, the Vice Premier reported.