Belarus should accelerate its WTO accession process - scientist

October 18, Vitebsk / Diana Kurilo - BELTA /. Belarus should accelerate its accession to the WTO. This opinion was expressed in a conversation with a BELTA correspondent by Doctor of Economics, Professor, Head of Department at the Institute of Economics of the National Academy of Sciences of Belarus Alexander Luchenok. He is taking part in the international scientific and practical conference "Socio-economic development of organizations and regions of Belarus: stability, development, innovation", which is being held today at the Vitebsk State Technological University. For Belarus, one of the problems caused by Russia's accession to the WTO is related to attracting investors to the domestic market. Although the country has a favorable tax policy for investors, the participation of a partner in the Single Economic Space in an international trade organization may reduce the investment attractiveness of Belarus. "Goods produced in Russia will be possible to sell all over the world, and this is an attractive factor for business. That is why it is so important for the republic to accelerate its accession to the World Trade Organization," Alexander Luchenok is convinced. According to the professor, the developers of the budget for 2013 tried to take into account the negative consequences of Russia's accession to the WTO, despite the fact that the pace of transition to WTO norms in Russia, the speed at which it will open its borders to imports, are still unclear. "The budget for next year is balanced and assumes minimal inflation rates, economic growth is projected at 8.5%, which is very promising," the scientist noted. And the amendments made to the Budget Code are in line with the Single Economic Space, within the framework of the Eurasian Economic Community, he added. Assessing the situation in the economy of Belarus as a whole, Alexander Luchenok considers it stable, but is convinced that not all reserves have been used yet. In particular, the monetary system has high potential. -0-