Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russia Officially Joins WTO
23.07.2012 10:48
Russia Officially Joins WTO

Russian President has signed the bill ratifying the country's accession into the World Trade Organization after 18 years of complicated negotiations. Earlier the bill was approved by the State Duma on July 10 and supported by the Upper House on July 18. The measure making Russia the 156th WTO member will come into force within 30 days, roughly on August 23.

      The document stipulates that Russia, as a WTO member state, will undertake to comply with the obligations of the Marrakesh Agreement. In particular, Russia will have to lower import duties, to 7.8% from 10% and open up investment in sectors such as telecommunications. On a contrary, duties on exports will be limited, and foreign service providers will have an easier way to Russian markets.

      But the membership has also been controversial, with some medium-sized firms expressing concern they will be put out of business by being unable to compete against imports made cheaper by a reduction in customs tariffs. The accession's supporters say the quality of goods and services will become better because of international capital flows and business competition.

      Russia has been negotiating about WTO entry since 1996 and was the last big country to be out of that organization. According the recent opinion polls, only 39% of the population welcome Russia’s WTO membership, compared to 59% in May 2003.


Sources: http://www.polit.ru http://lenta.ru http://www.utro.ru Image:// http://expert.ru 

Author: Julia Alieva

Tags: WTO Russia WTO entry Russian business   

Next Previous


You might also find interesting:

The Representatives Of the US Republican Party Suspect Russia Of Supporting the Green
30.07.2017
The Third Joint Conference of the Russian-Chinese Financial Council Took Place In Harbin
23.06.2017
Germanys Dependence On Russian Gas Will Grow
07.07.2017
Turkey May Refuse From Acquiring Russian S-400 AMS
17.10.2017
Siemens Announced the Suspension Of Cooperation With the Companies In the Electricity Sector Controlled by Russia
29.07.2017



comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Flowers Delivery

search on the map
TAGS:
tourist crisis  Olympic mountain village   Tomtor  Vissarion Belinsky  Russian business  City Hunter  Archeology  Concerts in St. Petersburg  Suzdal  Installations  Lake Baikal  Days of Europe  Russian science  biology  Eco-tour   Space Exploration  Russian painters  Mikhail Kornienko  Painting  Tula  Vladimir Shinkarev  technology  Russian billionaires  Mercedes-Benz Fashion Week Russia  hotel networks  odd news  Exhibitions in Moscow  Artifacts   Russian social networks  school shooting  Moscow  Spring-Summer 2013  Moscow events  travel to Sochi  Russian Literature  Russian history  Primorye  Russian tourism  Novgorod Region  Russian Archeology  Russian Cinema  Aleksandr Shevchenko  Kirov  Vasily Shuisky  History Exhibitions  Moscow actions  Censorship  Car parks  Sergei Prokofiev  Crimea 


Travel Blogs
Top Traveling Sites