English | دری

Russia’s WTO membership dream coming true

in International Business

Russia’s WTO membership dream coming true

Russia’s Lower House of parliament has approved the country’s entry into the World Trade Organization.

Russia was denied membership due to human rights concerns and business disputes in the region. It was finally allowed to join under a deal reached with the WTO in December last year after 18 years of negotiations.

However, some Russian politicians had opposed membership due to some of the requirements from WTO which included cutting tariffs on some imported goods, something Russia’s government thought there was no immediate way to recover the lost revenue.

The membership will be finalized after President Vladimir Putin signs the bill passed by the Upper House.

Tags assigned to this article:
Russia WTO membership

Related Articles

Bank of Japan boosts stimulus to help revive growth

The Bank of Japan (BOJ) has boosted its key stimulus measure in an attempt to revive growth in the world’s

South Korea’s economy hurt amid global economic slow down

South Korea’s economic growth dropped from 2.3% in the previous quarter to 1.6% in the July to September quarter. The

Spain’s jobless level falls for second month

The number of people looking for work in Spain fell for the second month in a row in May to

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.