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Putin: Russia gears up for more privatization

Putin: Russia gears up for more privatization
11 April 2005 12:31

Russian President Vladimir Putin has dismissed all talk of a review into results of privatization in Russia. Such rumors were unfounded, he said at the opening of the Hannover Fair in Germany.

The period of limitation for suits over privatization deals would soon be reduced from 10 years to three years, Putin said. Last week, he asked premier Mikhail Fradkov to consider amendments to Article 181 of the Russian Civil Code and submit the bill to the state duma lower house of parliament.

Putin said 3,000 joint-stock companies and 8,000 state-owned concerns would be privatized in the future. “Natural monopolies and the banking sector will also be affected by privatization,” he said.

There were plans to review anti-monopoly laws and legislation on property protection, and to amend the law on special economic zones, the head of state said, pledging to continue efforts to reduce the tax burden.

Putin said Russia would be ready to liberalize its foreign exchange market by 2008, adding that the state of the country’s finances allowed Russia to pay its debts to foreign countries, including to its largest creditor, Germany.

The president pointed to expansion of Russian-German economic ties. Trade between the two countries rose 30 percent to $23 billion last year, according to Moscow’s figures. Germany estimates bilateral trade at EUR 31 billion. Russia accounts for more than 30 percent of Germany’s energy imports.

On Russia’s WTO bid, Putin said Russia would join the bloc


LINK: http://www.gateway2russia.com/st/art_274780.php