WTO Throws Open New Opportunities for Business in Russia

On December 16 the line was finally drawn, after more than 18 years of negotiations, under Russia’s accession to the WTO.

Ever since the negotiation gained momentum, RSPP has been playing an activist role in the process: the RSPP Committee for Integration, Trade & Customs and WTO provided a discussion platform, open to all companies, aiming at setting out clear-cut terms for future WTO membership.

Right after the conclusion of the negotiation RSPP held a special Board meeting with First Deputy Prime Minister Igor Shuvalov, Economic Development Minister Elvira Nabiullina and Russia’s chief WTO negotiator Maxim Medvedkov as keynote speakers. The meeting focused on the terms and conditions of Russia’s accession to WTO, the commitments taken on by Russia and their implications for local industries.

The Board meeting was followed by a number of consultations and conferences looking into various dimensions of Russia’s WTO membership attended by representatives of over 200 companies. The proposals, emanating from the business community, for participation in WTO activities, including proposals for compensation for some of the accession costs, particularly in the automotive and agricultural sectors have been summarized and submitted to the government.

The Russian Union of Industrialists and Entrepreneurs will continue its cooperation with the Russian government in setting out WTO-related policies based on the priorities of Russian producers of goods and services.