Description

Russia has long awaited the outcome of its accession process. The implications of accession will have both a positive and negative impact on Russia and its trade partners. The major consensus of this analysis, however, points to important long-term gains that are evident to the Russian economy and certain opportunities that accession will give trade partners and investors. Trade partners may benefit from tariff reductions in agriculture, pharmaceuticals and technology sectors. Investment in Russia will also increase as a result of the increased security provided to investors with Russia under WTO rules. The financial sector in Russia will most likely benefit the most from increases in FDI.