The Implications of Russia's Accession to World Trade Organization

On 22 August 2012، the World Trade Organization (WTO) announced that Russia has joined the organization as its 156th member. After the collapse of the Soviet Union، the Russian Federation applied for membership in the General Agreement on Tariffs and Trade (GATT) in 1993 and in the WTO which replaced GATT in 1995. After nearly 20 years of negotiations، Russia formally joined the WTO in 2012. Russia''s joining the international multilateral trading system as one of the world''s largest economy and most populous country might have significant economic implications for Russia، its major trading partners and the WTO. Its accession to the WTO is a major step in the economic integration of Russia into the world economy and will help its economic development by attracting foreign investment and removing trade barriers. Russia''s membership will help the WTO to gain universality، and increase the scope of global rules and regulations of trade. The author seeks to examine these consequences of Russia''s WTO membership، and argues that the key implication for Moscow''s major trading partners means more stability and certainty in international trade regime and in Russia''s trade and investment.