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. Last Updated: 07/27/2016

FTAs to be Privatized

MOSCOW (MT) - The Russian government may privatize most of its foreign trade associations starting April, but it will keep shares in all of them and keep control of trade in strategic raw materials, government officials said.

Senior officials of the Foreign Trade Ministry told trade association workers Saturday that they could decide whether and how to privatize, Interfax news agency reported.

State foreign trade organizations lost their monopoly on importing and exporting two years ago, but many still act as a conduit for state orders. The report said the government would encourage more open tenders for its orders, starting next year.