He also said that Russia will open the market for subsidiaries of foreign insurance companies, but after a transition period of nine years.
Gref made his comments at an Asia-Pacific Economic Cooperation (APEC) summit shortly after Russia struck a deal with the United States that should clear the way for Russia to join the World Trade Organization (WTO).
Gref said Russia hopes to join the WTO in mid-2007.
(ITAR-TASS)
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