| By: |
Tarr, David;
Volchkova, Natalya |
| Abstract: |
This paper summarizes the estimates of what Russia will get from World Trade
Organization accession and why. A key finding is the estimate that Russia will
gain about $53 billion per year in the medium term from World Trade
Organization accession and $177 billion per year in the long term, due largely
to its own commitments to reform its own business services sectors. The paper
summarizes the principal reform commitments that Russia has undertaken as part
of its World Trade Organization accession negotiations, and compares them with
those of other countries that have acceded to the World Trade Organization. It
finds that the Russian commitments represent a liberal offer to the members of
the World Trade Organization for admission, but they are typical of other
transition countries that have acceded to the World Trade Organization. The
authors discuss the outstanding issues in the Russian World Trade Organizaiton
accession negotiations, and explain why Russian accession will result in the
elimination of the Jackson-Vanik Amendment against Russia. They discuss
Russian policies to attract foreign direct investment, including an assessment
of the impact of the 2008 law on strategic sectors and the increased role of
the state in the economy. Finally, the authors assess the importance of
Russian accession to Russia and to the international trading community, and
suggestions for most efficiently meeting the government’s diversification
objective. |
| Keywords: |
Economic Theory&Research,World Trade Organization,Emerging Markets,Debt Markets,Free Trade |
| Date: |
2010–03–01 |
| URL: |
http://d.repec.org/n?u=RePEc:wbk:wbrwps:5255&r=cis |