Duma Official Thinks Hasty Joining Of WTO Can Hinder Russian GDP Growth

"The prospects for our economic growth can seriously worsen, if we try to speed up the process of joining the WTO," Konstantin Remchukov, deputy chairman of the State Duma Committee on Natural Resources, told Radio Rossii (Radio of Russia). In the deputy's opinion, political factors play a big role in making the decision to boost the process of joining the WTO, but "the authors of this plan do not take into account the social consequences." Unreasoned lifting of barriers in the way of foreign products to Russia will cause substantial detriment to the Russian industry, Remchukov pointed out. According to him, the economies of regions of Russia will be hit particularly hard, because as soon as enterprises are closed in regions, salary arrears will appear in the civil service sector. "Companies are simply unready to play in accordance with the WTO rules, and as a result, whole sectors of the economy will be axed," the deputy believes.

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