- Russia and WTO
- Currently there are 140 member countries in the WTO and in the nearest future this number will increase. This means that almost every nation aspiring to create a modern and effective economy and to participate in the world trade equally strives for WTO membership. Russia is not an exception.
The WTO membership offers a range of benefits. Enjoying these benefits is, pragmatically, the goal of joining the WTO. By acceding to the WTO Russia pursues the following goals:
Improvement of existing conditions for access of Russian products to foreign markets and provision of non-discriminatory treatment for Russian exporters;
Access to the international dispute settlement mechanism;
Creation of a more favorable climate for foreign investments as a result of legal system change in accordance with the WTO standards;
Expansion of opportunities for Russian investors in the WTO member-countries, particularly, in the banking area;
Creation of conditions for growth of domestic production’ quality and competitiveness as a result of increased flows of foreign goods, services and investments to the Russian market;
Participation in negotiations of the international trade agreements taking into account national interests;
Improvement of the image of Russia as a competent international trade participant.
The objective of the accession negotiations is to achieve the most favorable conditions for Russia joining the WTO, i.e. the best balance possible between the benefits of accession and the concessions in forms of tariffs reduction and domestic market opening. According to German Gref, The Minister of Economic Development and Trade, the balance of rights and obligations of Russia during its accession to the WTO should contribute to its economic growth and not vice versa.