Russia Should Be Prepared to Join WTO

Well-known Russian businessman Oleg Deripaska believes Russia should be prepared for entering the World Trade Organization (WTO), he said when speaking at the international congress "Russia's Admission to the WTO. Assessment of the Process's Influence on Major Economic Industries" in Moscow on Wednesday.

Russia's readiness to join the WTO can be estimated by the state of the country's industry, the businessman believes. In this connection, it is necessary to pursue a specific and consistent industrial policy, that will relieve many Russian enterprises from carrying out unnecessary social functions that were imposed on them, and to reach the final goal, the modernization of industry, Deripaska said. On the whole, the country has enough funds to modernize its industry, he pointed out.

The announced advantages Russia will gain after joining the WTO are mainly potential, the businessman believes. It is also true about the expected increase of foreign investment into the Russian economy, according to him. "There is no proof that investments will definitely appear," he said.

It is unacceptable for Russia to fully open the domestic services market for foreign companies, the Russian tycoon believes.

During the talks on Russia's admission to the WTO, some members of the organization made absolutely incorrect proposals, he emphasized. He was referring to the requirement to bring the domestic oil and gas prices into line with the world ones. At the same time, everyone is perfectly aware that this will never happen, the businessman pointed out.