Investment aspects of the negotiations on Russia’s accession to the OECD

Abstract

The article deals with the issues of Russia’s accession to the Organisation for Economic Cooperation and Development (OECD) in the field of investment policy. In the beginning of the article the author emphasizes the topical problems of the Russian economy which affect its investment climate, i.e. capital outflow, the growing offshore economy, weak rouble, low oil prices. The author goes on to illustrate the examples of solving these problems in some countries of Central and Eastern Europe, which have managed to enhance the FDI inflows significantly after bringing their legislations into conformity with the OECD guidelines and standards and subsequent accession to the OECD. In conclusion the author looks at the OECD recommendations on better investment policy in Russia including fight against corruption, improvement of the tax legislation and the public administration system as well as liberalization of investment regulations etc. Besides, the author points the Russian efforts and its certain steps in this direction out, describes the current state and prospects of the negotiations on the Russian accession to the Organization within the framework of the OECD Investment committee and draws a conclusion.