1. The Government of the Republic of Korea extends a sincere welcome and congratulations on the final approval of Russia’s accession to the WTO on the second day of the 8th WTO Ministerial Conference in Geneva on December 16, 2011.

2. Russia is the first major economy to join the WTO since China gained membership in 2001. Russia’s entry into the WTO is expected to largely contribute to strengthening multilateral trading system as well as global economic growth.

3. Russia’s WTO accession will also have a positive impact on improving export and investment conditions for the Korean companies. The Government of the Republic of Korea hopes that this will serve to further facilitate economic and trade cooperation between Korea and Russia in the future.


                                 Spokesperson and Deputy Minister for Public Relations of MOFAT
 
* unofficial translation