Russian Economy Minister Downplays Potential US Pullout From World Trade Organization

(@FahadShabbir)

Russian Economy Minister Downplays Potential US Pullout From World Trade Organization

MOSCOW (UrduPoint News / Sputnik - 14th August, 2019) The potential US withdrawal from the World Trade Organization (WTO) will not deliver a fatal blow to the key international trade body and could instead facilitate the reform and improvement of its rules, Russian Minister of Economic Development Maxim Oreshkin said Wednesday.

US President Donald Trump stated on Tuesday that the United States would pull out of the WTO if it has to after years of being mistreated by the organization.

"For the organization itself, the loss of one major player is not fatal. It is even possible that a serious change in the configuration of 'tactical alliances' and interest groups within the WTO, which will inevitably follow the exit of the Americans, will give an impetus to its reform and improvement of multilateral rules in areas where negotiations have long been at a standstill," Oreshkin told reporters.

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