Role of the WTO for Russia’s exports and imports of direct foreign investment

Abstract

The article deals with the impact of joining the WTO on Russia’s exports and imports of foreign direct investment. Accession to the WTO promoted increase in FDI inflows to the Russian economy and facilitated investment activity of the Russian companies abroad. Increased investment attractiveness of the Russian economy is mainly the result of harmonization of the Russian economic legislation with the international norms during preparation for the accession. But there are still many issues remaining in the implementation practices. In order to benefit from the positive effect of joining the WTO on Russia’s FDI it is also necessary to eliminate other shortcomings of the investment climate prevailing in the Russian economy.