RSS Feed
July 22nd, 2012 
FAKE NEWS for the Zionist agenda The Kremlin press office announced the decision on Saturday, saying this concludes more than 18 years of intense negotiations.
The lower house of parliament, the State Duma, and the upper house, the Federation Council, approved the accession earlier this month, with the measure becoming a law within 30 days.
China’s membership in the WTO in 2001 had left Russia as the only major economy outside the body.
Critics warn that some medium-sized businesses may not be able to compete against imports made cheaper by a reduction in customs tariffs.
Tariff cuts were a key condition for Russia’s membership in the WTO and they are to reach 6.0 percent from a current average level of 9.5 percent within three years.
Experts, however, predict that Russia’s membership will boost its exposure to competition and will increase its GDP for as much as 11 percent in the long run.
Russia, the ninth largest world economy and the 156th country to join the WTO, hopes the measure will help reduce its dependence on oil and gas exports.
MRS/MA
Posted in 
Tags: 
