Russia is at the final stage of World Trade Organization accession

11.11.2011 On 10 November 2011, at the referendum of WTO member-states the Working Party on the Russian Federation accession to World Trade Organization presented a package of documents (including protocol on accession and its appendixes) and declared the conditions that Russia is obliged to fulfill. That was a final meeting of more than 60 WTO member-states on the mentioned issue that took place in Geneva. The following stage will be the ministerial conference that is planned on 15-17 December current year where Russia will be officially invited in WTO.
The long way for accession to WTO the Russian Federation has passed – approximately 20 years. The last obstacle connected with compromise establishment with Georgia (because this state was against Russia accession to WTO) was overcome with related agreement conclusion.

Expert’s opinion

“Russia actually has a very long way for WTO membership obtaining. This status provides a number of advantages, e.g.: non-discriminatory conditions for Russian goods and services access to foreign market, possibility of participation in international trade regulations adoption taking into consideration state own interests. However the most significant plus will be the existing of favorable climate for foreign investments attraction as the result of compliance of state legislative base with WTO standards establishment. Also the possibilities of taking activities in WTO member-states banking sector by Russian business will significantly expand”.

On the basis: www.wto.org

Andrianova Irina ( the lawyer of international consulting department of Honest & Bright)