Russia's accession to the WTO would mark a major milestone in the country's integration into the world economy. The United States strongly supports Russia's entry and stands ready to work with the Russian government on the reforms and policy changes necessary for accession. We must recognize that it will not be an easy process. We are ready to work at the pace Russia chooses, recognizing that we should avoid setting arbitrary deadlines. Some Russians are questioning whether their economy is ready for further opening.
Some Russian industries fear the rigors of global competition.
We must not forget, however, the dangers of providing protection to domestic industries. Protection traps scarce financial and human resources in inefficient uses, sapping economic vitality and mortgaging our economic future. Though we all sometimes have difficulties following this advice, we know it is best to let competitive market forces determine industry winners and losers. The accession process will bring clear benefits for Russia's reform program. The commitments that Russia makes in its WTO negotiations will lock in reforms and strengthen links to the global economy.