Russia becomes a WTO Member
22.08.2012 / 10:10
(This article expired 23.08.2013.)
Russian Federation joins the World Trade Organization after more than 19 years of negotiations on 22nd August, 2012.
Russia was the last G20 economy to be outside of the world trade body that stands for the multilateral trading system. Accession of Russia to the WTO represents an important step for Russia, for its trading partners as well as for the organization itself. Although it cannot be expected that all trade and policy disputes will be resolved, Russia’s accession means a significant step towards modernization of its domestic economy, trading partners, including the Czech Republic and EU, gain a tool for achieving transparency and a tool for resolving disputes, and WTO and its membership send an important signal of credibility. Together with Russia, Vanuatu joins the WTO bringing its membership count to total of 157.
For more information see www.wto.org