State Duma Ratified WTO Accession

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State Duma Ratified WTO Accession

On July, at the next meeting of the State Duma, a decision was made on Russia’s accession to the WTO. By a vote with a small margin of 30 votes, the deputies made a decision.

The Fair Russia and the Communist Party unanimously opposed, and also expressed their intention to delay the process until July 22, which is the deadline for the decision. identify executive and legislative authorities.

Accession to the WTO will be accompanied by a decrease in the profitability of the country’s budget and an increase in the level of inflation. The estimated amount of lost profits as a result of joining the WTO amounts to about 450 billion rubles in two years.

Oppositionists of the decision to ratify the protocol complain about the noncompetitiveness of Russian producers in free trade.