Wednesday, December 19, 2012

Russia and WTO - new challenges

Russia's entry into the WTO has been heralded as a major event in the world trading regime's history. I have blogged extensively on Russia's entry here, here and here.

While Russia is settling down in its new position in the multilateral trading institution, its trading partners are getting a little impatient it seems. Reports of the EU being unhappy with certain restrictions placed by Russia in the automobile sector, exports of live animals and other goods.

Reuters commented on the issue thus:
"Russia joined the WTO this year after a 19-year wait and Putin has said the country would use its membership to develop worldwide trade links. 
But he said in November the country's $1.9 trillion (1.17 trillion pounds) economy could suffer from WTO entry due to the increase in imports that would result. 
Russia's team at the WTO is not fully up and running, something which may be delaying an EU decision to launch a case at the global body."

The Russian Team - Case for the strengthening of the legal capacity of the Russian Federation to meet these challenges? It is just the beginning. 

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