Bank Of Baku

Russia may join WTO during next 6 months

Russia may join WTO during next 6 months
# 05 April 2011 08:24 (UTC +04:00)
Baku - APA-Economics. Russia intends to join the World Trade Organization in the summer or autumn of this year, said Deputy Prime Minister Sergei Ivanov, speaking at the Council on Foreign Relations in New York, The Voice of Russia reported.

According to him, last year was a breakthrough in negotiations, so the set time frame is "totally realistic". He said that the Russian leadership understands the economic pros and cons of WTO accession.
The strongest sectors will benefit, and the less competitive, such as mechanical engineering and the automotive industry will suffer, Ivanov said. Nevertheless, it is a motivator for the modernization of lagging industries, said the Deputy Prime Minister.
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