Wednesday, July 11, 2012

State Duma Ratifies Russia's WTO Accession

In a plenary session, the State Duma adopted a resolution ratifying Russia's accession to the World Trade Organization. Only United Russia deputies supported the ratification during the individual voting. Representatives of all of the opposition factions objected. The protocol stipulates that Russia, as a WTO member state, undertakes all of the obligations under the Marrakesh Agreement Establishing the WTO. The transitional period for liberalizing market access is 2-3 years and 5-7 years for sensitive goods. The Duma's decision provoked a host of disputes in the business community and in parliament. An appeal was filed with the Constitutional Court, but the Court found no violation of the Constitution.

http://www.rapsinews.com/judicial_news/20120710/263751540.html

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