DVORIKI (Sputnik) — Moscow is guided by the understanding that an alternative to the World Trade Organization (WTO) does not exist, Russian Prime Minister Dmitry Medvedev said Tuesday.
"I think that an alternative to the World Trade Organization does not exist today. This is not because it is some kind of perfect organization that defines the basics of international trade, making all of this fair and correct. No, not because of that. But just because nothing else but the WTO exists. We were guided exactly by these considerations when we applied for accession to the WTO system, to be an integral part of the modern world's economic order," Medvedev said at the Terra Scientia youth educational forum.
He added that Russia managed to negotiate better WTO accession terms for itself, avoiding the simple nullification of all custom duties.
WTO is a global international organization that regulates international trade. It has 164 member states.
