Russia joined the WTO on August 22, 2012. For 19 years, the Russian government has been trying to achieve this. Naturally, over such a long period of time the problem has ceased to be only economic or political and has acquired a special social character. Discussions on the topic “Do I need to join the WTO at all?” Were held not only among politicians, but also among ordinary citizens.
Members of the WTO have a number of privileges. Having become one of them, Russia was also able to receive special advantages, thanks to which it became possible to significantly improve the state of the economy. In particular, we are talking about more profitable trade and obtaining the best conditions for the penetration of Russian goods into the foreign market. This will make it possible, over time, to make domestic products of higher quality and more competitive. Reducing customs duties and even abolishing them will allow Russian manufacturers to lower prices for their products and make the market more open. As a result, the state of business will improve, as will the state of the economy as a whole.
Accession to the WTO will help attract foreign investors, which will have a positive effect on the level of Russian goods and services. At the same time, investors from the Russian Federation will receive very broad opportunities in various areas, and this will contribute to the prosperity of business. In addition, Russia's WTO accession will significantly improve Russia's reputation, and this, in turn, will have a positive effect on attitudes towards Russian goods, services and investments. Russia will also be able to adjust the rules of trade with other countries, taking into account its own interests.
Accession to the WTO is associated with the inevitable modernization of the economy. It would be disastrous if Russia was not ready for the transition to a new trading system and for the adoption of international norms. However, for two decades the government has been developing measures to improve the economy and prepare the country for accession to the WTO, so there should be no negative consequences. At the same time, Russia will find itself in a more advantageous position than before, since it will be able to firmly defend its rights and, if necessary, seek help from the international commercial court.
