Russia's WTO application and world direct investment are among the topics covered in the current issue of the International Economic Review (IER), a publication of the U.S. International Trade Commission's Office of Economics.

The IER is produced as part of the ITC's international trade monitoring program. The program's purpose is to keep the Commission informed about significant developments in international economics and trade and to maintain the Commission's readiness to provide technical information and advice to policy makers in the Congress and the executive branch. The opinions and conclusions of the IER are those of the authors and do not necessarily reflect the views of the Commission or any individual Commissioner.

The current issue (January/February 1998) includes the following articles:

• Russia's WTO Application Advances --- Russia's February 16, 1998, submission of a market-access offer advanced Russia's bid to join the WTO, although the application for WTO membership is far from complete. To help Russia establish a trade regime that will be compatible with the WTO, the United States continues to engage Russia in bilateral consultations, and an EU-Russia consultative process commenced in January 1998.

• World Direct Investment in 1996 --- The global foreign direct investment (FDI) stock increased fourfold between 1992-96, UNCTAD recently reported. The United States was the largest FDI recipient and investor abroad.

In addition, the publication reviews U.S. economic performance relative to other major trade partners, U.S. trade performance, and economic forecasts. Comparative economic indicators for major industrialized countries are also provided. An annual IER chartbook depicting trends in U.S. trade with major trading partners and regions is also included in the IER series.

The current issue of the IER (USITC Publication 3090, January/February 1998) is available for downloading from the ITC's Internet server at http://www.usitc.gov. To request a printed copy, write to the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, D.C. 20436, or fax requests to 202-205-2104.

To be added to the mailing list for the publication, write to the Office of Economics, U.S. International Trade Commission, 500 E Street SW, Washington, D.C. 20436, or fax requests to 202-205-2340.