22 August 2012

Russia joins WTO

After 18 years of negotiations, the Russian Federation joined the World Trade Organization as its 156th member on 22 August 2012. The country will now lower its import duties, limit its export duties and grant greater market access to other WTO members. Moreover, Russia will be subject to the WTO’s dispute settlement system.

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Source: BBC | Russia's entry to World Trade Organization hailed by EU

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