Economics: Russia finally joins the WTO

Trade partners Russian Prime Minister Vladimir Putin and Chinese President Hu Jintao (photo: dpa)
Trade partners Russian Prime Minister Vladimir Putin and Chinese President Hu Jintao (photo: dpa)

Russia was the largest economy in the world to remain outside the 153-member World Trade Organisation. It finally joined last month but what difference will this make to world trade and why did Russia delay joining for so long.

SOME experts claim that Russia’s entry to the World Trade Organisation after 18 years of haggling could boost the country’s economy by as much as 11 per cent over the long term.

But there seems little evidence of this at present.

Russia was the largest economy in the world - with a gross domestic product (GDP) of close to US$2trillion - to remain outside the 153-member WTO.

Russian President Boris Yeltsin first applied to ...

Not a subscriber yet?

Subscribe now and get the latest in-depth geopolitical analysis and forecasts from GIS’s unrivaled cadre of experts.

Learn more about our subscription plans.

You can also buy this report for €8.99 Buy

Add your comment