Logo
  Saturday, September 19, 2020
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The World Bank supports the idea of Russia joining the WTOrganization as soon as possible
The World Bank supports the idea of Russia joining the World Trade Organization as soon as possible, believes the country has the right to insist on special terms of entry and supports Russia negotiation stance, Vremya Novostei reported. Head of the World Bank's office in Russia, Kristalina Georgieva, says that Russia should keep dual gas pricing since domestic gas prices are much lower than world prices. Otherwise, Russians would be confronted with uncontrolled price growth. The World Bank also supports the ban on foreign banks and insurance companies opening direct branches in the country during the transitional period. Prior to its transition to a market economy, Russia's industrial sector was well developed while the country actually lacked a services sector, especially banks and insurance. "That is why it is quite logical for the transitional period to last longer," Georgieva said. At yesterday's seminar regarding Russia's accession to the World Bank, Georgieva spoke enthusiastically about the advantages of joining the WTO. "An open economy always develops faster than a closed one," she said. According to the World Bank estimates, Russia's accession to the WTO will bring its GDP by 1% annually. According to Vladimir Tkachenko, deputy director of the department for trade negotiations within the Ministry of Economic Development and Trade, economic growth will change insignificantly after Russia's accession and the investment environment will improve considerably. He also noted that Russia currently complies with WTO rules and has nothing to worry about
Print The World Bank supports the idea of Russia joining the WTOrganization as soon as possible Bookmark The World Bank supports the idea of Russia joining the WTOrganization as soon as possible

Related News   
FebMarch 2005Apr
MoTuWeThFrSaSu
28123456
78910111213
14151617181920
21222324252627
28293031123
45678910