Source Pravda.Ru

Russian metallurgists to benefit from WTO membership

Russia's incorporation into the World Trade Organization (WTO) will step up metallurgic production consumption on the domestic market, agreed the participants of the "Development Strategy for Russian metallurgic Companies" conference held in Moscow on Wednesday.

Experts believe that increased growth rates following Russia's entry into the WTO will stimulate the consumption of home-produced steel. Some estimates predict an extra 1% added to the forecast annual GDP growth rates as an advantage of the WTO full membership.

Russia's incorporation into the WTO will facilitate the access to foreign equipment, which, in its turn, will promote reequipment of the steel industry, the participants of the conference believe.