| JRL Home | JRL Simple/Mobile | RSS | Newswire | Archives | JRL Newsletter | Support | About
Old Saint Basil's Cathedral in MoscowJohnson's Russia List title and scenes of Saint Petersburg
Excerpts from the JRL E-Mail Community :: Founded and Edited by David Johnson

Russia closes WTO deal - details

On 10 November 2011, the Working Party on Russia's accession, chaired by Ambassador Stefn Jhannesson (Iceland), agreed, ad referendum, on the terms of the country's membership to the WTO by adopting the package containing reforms to Russia's trade regime, and the commitments that Russia undertook to implement as part of its WTO accession.

"It has been a long journey, but today Russia has taken a big step towards its destination of membership in the WTO. In acceding to the WTO, Russia embraces a series of rules and commitments that are the foundation of an open, transparent and non-discriminatory global trading system. This system provides important guarantees for Russia and for the 153 other Members of our organization. This win-win result will bring Russia more firmly into the global economy and make it a more attractive place to do business. For the WTO, it comes as a most welcome deliverable for the upcoming WTO Ministerial Conference and signals anew the relevance and vibrancy of the WTO as an instrument for international co-operation," said Director-General Pascal Lamy in a press release with more details, which you can be found here.

Main points are:

Citi analyst Ian Colville commented: "The terms do not seem surprising. As we discussed before, Russia has already implemented the major part of changes. The immediate effect will be quite limited, less than 1% in terms of tariff protection. However the long-term impact will be positive mainly because of better technical and tariff regulation."


Russia, Economy, Trade, WTO - Russian News - Russia - Johnson's Russia List

Bookmark and Share - Back to the Top -        


Bookmark and Share

- Back to the Top -        

  Follow Johnson's Russia List on Twitter Tweet