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Introduction Over the past year the subject of WTO accession has become one of the hottest foreign policy issues in Russia. It is clear from Russia's long history, the size of its internal market, and its importance in the shaping of world politics that the process of Russian economic reform will have wide-ranging political and social implications. Now Russia is going to become one of the members of the World Trade Organization (WTO). It not …

…aspects insufficiency. For example, a lot depends on the bureaucrats. As far as WTO accession is concerned, it could boost restructuring by Russian firms. With increased international competition and better access to imported components and foreign consumer markets, Russian firms will become more productive and efficient. For foreign investors to come, Russian needs to have a normally functioning legal system and legislate understandable taxation system to foreign investors. Besides, a normal banking system is needed.