HIGHER SCHOOL OF ECONOMICS Faculty of World Economy and International Affaires Master of International Business Essay “Russian Federation in WTO: Advantages and disadvantages” Written by student Alexandra S. Gudimova MIB group Moscow 2013 Content Introduction 3 Russian Federation in WTO: advantages 4 Russian Federation in WTO: disadvantages 6 Controversial issues 8 Market access for goods — tariff and quota commitments 8 Conclusion 9 References 11 Introduction
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Engagements of developing countries in WTO and regional trading arrangements are critical to get meaningful market access for efficient utilization of their resources. Many developing economies have succeeded in becoming part of global production chains‚ which typically take advantage of the strengths of different regional economies to produce components and assemble completed products. The rise in the use of these production chains has been associated with increased foreign direct investment flows
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into the WTO has been a long pending one and it was the only country of the G8 group not to be in the WTO. After around 18 years of negotiation‚ Russia finally joined WTO as the 156th member in August‚ 2012. The negotiations began way back soon after the breakup of the Soviet Union in June‚ 1993 when President Boris Yeltsin submitted the WTO membership application for Russia. During the 1990’s‚ Russia’s political system was very volatile and had a slow pace reforms which stagnated the WTO negotiations
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As it is known the WTO agreements is very huge in and documents full of complexity which cover range of activities such as banking‚ government procurement‚ agriculture‚ and etc. Therefore there are five clear principles that go into all documents‚ and they are considered as the basis of multilateral trading system (WTO‚ n.d.). These principles are briefly introduced bellow: Non-discrimination trading The first principle to introduce is trading without discrimination‚ having two important components
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Merits of the WTO According to the WTO agreements‚ one of the most important reasons for having the system is that it’s a forum for countries to thrash out their differences on trade issues. In the agreement lie many over-riding reasons why it’s better off with the system in place. These are the ten distinct advantages according to the WTO; the system helps promote peace‚ disputes are handled constructively‚ rules make life easier for all‚ freer trade cuts the costs of living‚ it provides more choice
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What is WTO? The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on 1 January 1995 under the Marrakech Agreement‚ replacing the General Agreement on Tariffs and Trade (GATT)‚ which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements‚ and a dispute resolution process aimed at
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decided to set up a permanent institution for looking after the promotion of free and fair trade amongst nations. Consequence to this decision‚ the GATT was transformed into World Trade Organisation (WTO) with effect from 1st Jan 1995. The Head Quarters of WTO is situated in Geneva‚ Switzerland. WTO is a powerful successor of GATT and a permanent organisation created by an international Treaty ratified by Government of member states which governs trade not only in goods but also in services and intellectual
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to the Centre for WTO Studies‚ coinciding with the inaugural issue of our new bimonthly newsletter: “ India‚ WTO and Trade Issues”. The Centre for WTO Studies – WTO Centre in its shorter form – has indeed been functioning since November 2002 in the Indian Institute of Foreign Trade with the objective of providing research and analytical support to the Department of Commerce in the Ministry of Commerce and Industry on identified issues relating to the World Trade Organisation (WTO). However‚ the Centre
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(GATT)‚ the World Trade Organization (WTO) is a global international trade organization that develops international commerce rules and mediates trade disputes among its members. The WTO brings together 148 members1 that participate in negotiations and binding commitments concerning the promotion of competition and the liberalization of international trade of goods and services. General Agreement on Trade in Services Concluded in 1997 under the auspices of the WTO‚ the Fourth Protocol to the General
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Contents: Acknowledgement : We would like to express our whole hearted thanks to Almighty Allah by whose grace & blessings we have the knowledge‚ insight and opportunity to complete this report. We are grateful to our teacher Mr. Mirza Aqeel Baig for teaching us the entire course of Pakistan Economic Policy. His versatile knowledge in this field and unique teaching style has developed our knowledge and cleared many concepts. Thankyou! EXECUTIVE SUMMARY:
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