Russia joins WTO after 19 years of talks

In an article in The Financial Times, Moscow correspondent, Catherine Belton, reports that Russia has finally entered the World Trade Organisation. World Bank economists estimate a boon for Russia’s economy of $49 billion a year, or about 3% of gross domestic product (GDP), over the midterm from the increased competition and greater foreign investment that entry is expected to bring. But analysts have said the immediate impact of membership will be less apparent.

Wednesday, August 22, 2012