| The World Bank advises us to join the World Trade Organization The World Bank, while ardently supporting the idea of Russia's early accession to the World Trade Organization, nevertheless believes that Russia has the right to insist on special conditions for itself. Moreover, an influential international organization takes the side of Russia in the most painful negotiation issues.
In particular, according to the head of the Russian representative office of the World Bank, Kristalina Georgieva, Russia must maintain dual pricing for gas, in which domestic prices are much lower than world prices. Otherwise, people will face uncontrollable price increases. In addition, the World Bank supports a ban on the opening of direct branches of foreign banks and insurance companies during the transition period. Before the transition to a market economy, Ms. Georgieva explained, the industrial sector in Russia was well developed, while the service sector, especially banking and insurance, was practically absent. “Therefore, it is absolutely logical for the transition process to be longer,” she is convinced.
Yesterday, at the seminar “Trade Policy and WTO Accession for the Economic Development of Russia and the CIS,” organized by the World Bank, Ms. Georgieva spoke enthusiastically about the benefits of joining the WTO. “An open economy always develops faster than a closed one,” she believes. According to World Bank calculations, joining the WTO will bring Russia an additional one percent of GDP growth annually. According to Vladimir Tkachenko, Deputy Director of the Trade Negotiations Department of the Ministry of Economic Development, economic growth will change slightly after accession, but the investment climate will improve significantly. In addition, we already live according to WTO rules in almost everything, so there is no need to be afraid.
China, Ms. Georgieva gave a “propaganda” example, managed to double its exports thanks to WTO membership. She admits that in the short term it will be uncomfortable for industries accustomed to protectionism, but then it will be good for everyone. “To everyone who survives,” the rector of the Russian Academy of Civil Service, Vladimir Egorov, immediately responded.
Meanwhile, at the World Bank itself, everyone is busy with the upcoming elections for a new president on Thursday. As you know, the United States nominated the only candidate - Paul Wolfowitz, who currently holds the position of Deputy Secretary of Defense of the United States. His candidacy caused extremely mixed reactions. However, by tradition, the bank is always headed by an American. However, yesterday there were suggestions that, despite the absence of any economic achievements of Mr. Wolfowitz, his candidacy will most likely be supported by the bank's board of directors. According to the TASS agency, Europeans agreed to vote for him in exchange for US support for former European Commissioner for Trade Pascal Lamy for the post of head of the WTO. Vera SITNINA |
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