Russia's entry into the World Trade Organization will contribute up to 2 percentage points of growth in the Russian economy per year, Economic Development and Trade Minister German Gref said at the fifth congress of the Russian Chamber of Industry and Commerce in Moscow on Friday, Interfax reports.
"Russia's entry into the WTO will be a powerful stimulus for the development of the economy," the minister said.
He said that according to expert estimates and based on the experience of other countries, Russia could expect an increase in the inflow of investment by 10 percentage points. "The contribution to economic growth is estimated at two additional percentage points per year," Gref said.
The minister said that joining the WTO "would provide new opportunities for developing sectors, particularly the agrarian sector." He said that Russian agricultural produce would receive access to markets in countries that currently do not receive Russian products.