Russia's ex-finance minister says WTO accession will boost competition
MOSCOW, August 22 - RAPSI. Former Finance Minister Alexei Kudrin believes that Russia's accession to the WTO will stimulate economic activity and competition, RIA Novosti reported Wednesday.
"Russia has become a full-fledged WTO member country," he wrote on his Twitter page. "An excellent stimulus to the development of the economy and competition."
The protocol on Russia joining the Marrakesh Agreement Establishing the World Trade Organization came into effect on August 22. Russia has become the 156th WTO member.
The accession protocol incited a host of disputes in the business community and in parliament. An appeal was filed with the Constitutional Court, requesting that the court check whether Russia's accession to the WTO was in compliance with the former's Constitution.
The applicants believed constitutional procedure was violated during the protocol's submission for ratification. They also held that some of the protocol provisions were unconstitutional.
The Constitutional Court announced on July 9 that it saw no violations involved in signing the protocol on Russia's accession to the WTO.