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04.10.2012
Russia Enters WTO

In a month, the Russian Federation will become a full-fledged member of the World Trade Organization. President Vladimir Putin has signed Russia's accession to the Organization into law, completing a long-standing campaign to join the trade rules club. From now on, the authorities have to aim at leveling the negative effects of the aggravated competitive struggle with foreign manufacturers.

In acceding to the WTO, Russia has committed to fully apply all provisions for the unified set of trade rules enshrined in the Marrakech Agreement in 1994, with recourse to transitional periods for the process of liberalization of market access which normally takes 2 to 3 years, whereas with regard to the most sensitive goods taking 5 to 7 years.

Russia negotiated for membership for 18 years. Only China had the longer period of talks.  The Russia’s entry was hindered by many problems: intellectual piracy, import taxes, ban on Polish meat and Georgian and Moldovan wine, subsidies to farmers, round timber, Georgian mineral water supplies.

Risks from Russia’s accession are still disputable within business community as the experts from the government circles admit that the agricultural industry of Russia might be significantly affected.

Gazeta.Ru


 
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