BANGKOK -(Dow Jones)- The incoming head of the World Trade Organization Supachai Panitchpakdi said Monday that he wants to encourage the accession of Russia into the organization "as soon as possible," and praised Russia 's efforts to meet the requirements for joining.
"The timing of entry depends on legal, taxation and other institutional adaptations by Russia itself, but I am among those who hope it will be soon,
possibly next year," Supachai told reporters on the sidelines of a seminar.
Supachai also praised the Russian government's commitment to adapt to the requirements of WTO membership.
"I have to praise the Russian government which seems clearly committed to make the necessary changes in time," he added.
Supachai, a former Thai deputy prime minister and commerce minister, will be
taking over as director-general of the WTO Sept. 1 .
The Russian government said recently that 20 laws already had been passed by
parliament from a package of 53 legal changes required to comply with the WTO rules.
Recent moves by the U.S. Commerce Department and the European Union to formally recognize Russia as a market economy, are viewed as having boosted Russia 's nearly eight-year bid to join WTO.
However, the E.U. has also recently complained that problem areas remain, especially due to Russia 's insistence on protecting its telecommunications and financial services sectors.
WTO's current Director-General Mike Moore cautiously said in June it could take up to three years for Russia to join.
Supachai said Russia was the most significant to world trade among a total of 28 countries currently in talks to join the organization.
Like the recent entry of China to the WTO after 15 years of talks, "the accession of Russia to the organization would benefit both the country itself and its trading partners," he said.
The Geneva -based WTO currently has 144 members. It launched a new round of negotiations in Doha last November which are scheduled to end by Jan. 1, 2005