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Russia to benefit from its accession to WTO: NGO head

(Xinhua)

13:35, December 18, 2011

MOSCOW, Dec. 17 (Xinhua) -- Russia's accession to the World Trade Organization (WTO) would not much affect the country' economy but facilitate its development, President of Russia's Chamber of Commerce and Industry (CCI) Sergey Katyrin told Xinhua in an interview.

Russia, the only G20 member and the biggest economy outside the WTO, finally joined the trade bloc on Friday after 18 years of efforts.

The average time for prospective members to go through the application process is six years, but it has taken Russia three times that long -- longer than any other applicant.

"Russia was not ready to join the WTO on any conditions and it is naturally that we have our own view on the conditions for joining," Katyrin explained why the country's WTO negotiations lasted longer than other members.

But he stressed that Russia's accession to the WTO would not destroy Russia's economy and society.

"I think immediately Russia would not face anything (problems or challenges Russia may face after joining the WTO), as this is not a single-step process," Katyrin said, adding that Russia has "held its ground" in the long-time negotiations.

"And I also think some political processes surrounding Russia these years have carried their weight in it (negotiations),(and that involves) more than trade," he added.


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