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Joining WTO should teach Russia to manage production costs - Medvedev

22.05.2013 09:14 "Agro Perspectiva" (Kyiv) — Russia’s joining the World Trade Organization should teach it how to manage production costs, Russia’s Prime Minister Dmitry Medvedev said in an interview with the newspaper Komsomolskaya Pravda, Voice of Russia reports referring to ITAR-TASS. «Many of our products fail to be competitive because of the fact we are running up costs. Meanwhile, we should learn to control them, manage them, so that our products sell better,» said the head of government. He cited China as an example to emulate in this aspect. «And we likewise should make efforts to ensure that our products start selling well. There is so much that we are capable of producing, and of good quality,» said Medvedev. Russian Prime Minister Dmitry Medvedev considers it necessary to continue with privatization, but it should be done sensibly. «Privatization needs to be continued, but it should be done reasonably,» he said in an interview for the newspaper Komsomolskaya Pravda. «We have a lot of unused or poorly used state facilities. And lately we have managed to quite effectively liquidate some of them,» stated the head of the government. According to him, this channeled money into the budget, and some businesses were sold for 5 to10 times the original estimated price. The second advantage of privatization is a transfer of the property to an efficient owner. «I’m not saying that any private owner is automatically more efficient in his capacity than the state, but overall, private traders show greater concern for their companies than we see in state-run enterprises. That is why I anticipate this effect,» said Medvedev.

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