-U.S. declares Russia a market economy
(Changes source to Commerce Dept, adds Putin, Gref response)
MOSCOW, June 6 (Reuters) - The United States Commerce
Department on Thursday acknowledged Russia as a market economy,
a step long awaited in Moscow that should ease the access of
Russian manufacturers to U.S. markets.
In a statement, the Commerce Department said it would
backdate the new status for Russia to April 1 of this year.
Economic Development and Trade Minister German Gref said
limitations imposed on Russia due to its lack of market economy
status had deprived Russia of a market for $1.5 billion worth of
goods.
"For Russian companies this means more possibilities to
enter the American market, and for the Russian people it means
the creation of new jobs, and for the Russian economy it means
new opportunities and new production of domestic goods," Gref
told RTR state-run television.
In Russia, market economy status is seen as a trophy
signifying a growing acceptance that the country is a true cog
in the world economy, coming 10 years after the collapse of
Communism ended Russia's economic isolation.
The European Union granted Russia official market economy
status on May 29 during a summit in Moscow.
The United States previously categorised Russia as a
"non-market economy," which meant the Commerce Department could
not use Russian domestic prices when calculating anti-dumping
duties on imports from the former Soviet state.
Instead, it had to use prices from a third country to
calcuating dumping margins.
The Kremlin press service said U.S. President George Bush,
who came to Russia two weeks ago for a summit, told Russian
President Vladimir Putin about the change in a phone call
earlier on Thursday.
"Vladimir Putin welcomed the step toward the Russian
Federation, which is genuinely a country with a market economy,
noting that it would give a powerful impetus to development of
bilateral economic ties," the Kremlin said.
((Moscow newsroom, +7 095 941 8520,
moscow.newsroom@reuters.com))
REUTERS
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