Russia officially joins World Trade Organization

Russia officially joins World Trade Organization

Published: 21 July, 2012, 20:15

Russian President Vladimir Putin has signed the bill ratifying the country's accession into the World Trade Organization after 18 years of complicated negotiations.

The measure making Russia the 156th WTO member will become law within  30 days, after the lower house of parliament, the State Duma, approved  it on July 10 and the upper house, the Federation Council, on Wednesday.

Under the agreement, Russia would reduce average import tariffs to 7.8%  from 10% and open up investment in sectors such as telecommunications.

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 reduction of the tariffs was a key condition for Russia entering  the WTO and they will fall from a current average level of 9.5 percent  to 7.4 percent in 2013, 6.9 percent in 2014 and 6.0 percent in 2015.

Currently, 39 % of the population welcome Russia’s WTO membership, compared to 59% in May 2003, a poll revealed.

However,  the World Bank estimates Russian GDP growth could be 3.3% over the  medium term and as much as 11% in the long term after joining the WTO.

http://rt.com/politics/russia-putin-wto-joins-755/

Views: 36

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by truth on July 22, 2012 at 1:57pm

And all China had to do to gain entry was cover up 911 truth. Some may recall China looking the other way as we faked a war in Iraq too, around this same period.

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted blog posts
2 hours ago
Burbia commented on tjdavis's blog post The Jewish Couple That Taught Bob Dylan Hebrew and Introduced Him to Zionism
"Haaretz put this story behind a pay wall. Sali Ariel and Terry Noble were the names of the couple…"
yesterday
William Heckman is now a member of 12160 Social Network
yesterday
cheeki kea commented on tjdavis's photo
yesterday
cheeki kea commented on cheeki kea's video
Thumbnail

This Woman DESTROYED Harley-Davidson's Future Forever

"It's a sad day on the highway. But I guess the show must go on. Watch out for the ruination of…"
yesterday
cheeki kea posted a video

This Woman DESTROYED Harley-Davidson's Future Forever

This Woman DESTROYED Harley-Davidson's Future ForeverWelcome to Ride Radar – Your Frontline Source for Motorcycle Deals, Trends & Market Mayhem.Looking for t...
yesterday
tjdavis posted a photo
yesterday
Burbia posted a status
"Who knew releasing the MLK files and literally deflecting, it ends up implicating himself with the Epstein Files."
Tuesday
Burbia posted a video

Dan Bilzerian DEMOLISHES MAGA Nutjob Patrick Bet-David on His Own Show

Watch as two powerhouse personalities collide in this no-holds-barred debate on one of the world’s most contentious issues. Patrick Bet-David, known for his ...
Monday
Doc Vega's 7 blog posts were featured
Sunday
tjdavis's 2 blog posts were featured
Sunday
Less Prone favorited tjdavis's blog post Track AIPAC
Sunday
FREEDOMROX's blog post was featured

MRNA VACCINES: Question

Hello my fellow sojourners,I know it has been five years since the Plandemic, but one question has…See More
Sunday
Less Prone favorited FREEDOMROX's blog post MRNA VACCINES: Question
Sunday
cheeki kea commented on cheeki kea's photo
Saturday
cheeki kea posted a photo
Saturday
Doc Vega posted blog posts
Jul 18
Doc Vega commented on Doc Vega's blog post Marjory Taylor Green Proposes Bill Abolishing Geoengineering or Weather Modification
"cheeki kea Marjory is in a daily battle with Democrats on the hill constantly coming up with more…"
Jul 18
Doc Vega posted blog posts
Jul 16
Mr. Sizzle favorited Less Prone's video
Jul 15

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted