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:

Sergei Shoigu Met With the Head Of the Serbian Military Department
15.08.2016
Big Three Rating Agencies Are Interested In Registration In Russia
16.01.2017
Russia And South Africa Will Cancel Visas
30.03.2017
Delegation From China Visited Rosselkhoznadzor
31.10.2016
Siluanov Gave Comments On G20 Financial Issues
05.09.2016



comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
Dymkovo toy  Daniil Andreyev  Russian history  Engravings  Design  Moscow  Painting  Jazz  Archeology  Mozdok  Baikal  Syria  Yosman Botero  Russian music  Russian journalists  Russian roads  Anomalies  human rights in Russia  Russian business  Russian-Ukrainian relations  Chechen republic  Siberian extreme  Planeta LeD  economic crisis  Russian Folklore  ecology  Russian tourism  Alexey Navalny  Russian Cinema  Book Exhibitions  Classical Music  Travel  Milonov  Exhibitions in St. Petersburg  IKEA  Moscow monuments  Novokuybyshevsk  ISS  Mercedes-Benz Fashion Week Russia  Ryazan  Chelyabinsk meteorite  Moscow Stock Exchange  World Chess Olympiad  Rosneft  Evgeny Yakovlev  Russian Literature  Mikhail Gluzsky  MTS   Exhibitions in Moscow  Alena Akhmadullina 


Travel Blogs
Top Traveling Sites