U.S. companies to gain access to huge market with Russia's WTO accession - experts
WASHINGTON. Nov 11 (Interfax) - Russia joining the World Trade Organization will make the country's economy more predictable for investors, and will also allow U.S. companies to move into a huge developing market, experts with the U.S.-Russia Business Council (USRBC) say.
Russia is an important market for many U.S. companies, and its accession to the WTO will help deepen commercial relations between the United States and Russia, Alcoa CEO Klaus Kleinfeld said.
The USRBC welcomes American and Russian negotiators, as well as all parties involved in a complex negotiation process that has led to an agreement that represents the culmination of eighteen years of efforts to get Russia into the world's biggest trade organization, which sets the rules by which business is done, a statement from the Council says.
U.S. companies will gain access to a huge developing market on which their goods and services enjoy a good reputation thanks to high quality, the statement says. This will make the Russian economy more predictable for investors, it also says.
The USRBC represents 250 U.S. and Russian companies and provides services for the development of business and in the support of communication between the governments in Moscow and Washington.