Analyzing The Positive Impact Of Russia’s Accession To The WTO On The Establishment Of The Sino-Russian Free Trade Area

In recent years, the world economy and regional economic integration has been developing rapidly. As a more important form of regional economic integration, the Free Trade Area has been highly respected around the world. There are more countries and regions through the establishment of a free trade zone to deepen each other’s level of economic and trade cooperation. The establishment of a free trade area can make the countries in the region improve their scale of economies and level of trade. Furthermore, countries and regions as the members of the FTA can make better use of their comparative advantages, making international resources to optimize the configuration. At the same time, the countries form a FTA can rely to each other to avoid the risks of globalization.China and Russia are both the permanent members of the UN Security Council and the "BRIC", so they play important roles on the world economic stage. The close cooperation between China and Russia will further promote the bilateral trade and economic development, but also it will have more important influence on the world’s political and economic situation. China and Russia are friendly neighbors to each other and their land border is over4300kilometers. Since the1990s, based on the people’s fundamental interests of the two countries and the principles of "Mutual Benefit and Win-Win, Facing the Future", China and Russia conducted fruitful economic and trade cooperation. In2011, bilateral trade between China and Russia amounted to＄79.24billion. In December of the same year, Russia was approved by the World Trade Organization officially as a member of the WTO. Russia’s accession to the WTO brings more power and opportunities for Sino-Russian economic and trade cooperation.At the same time, the economies of the two countries are in the transition course, facing with an important opportunity and development. To strengthen Sino-Russian economic and trade cooperation not only conforms to the fundamental interests of the two countries, but also it will be conducive to the Chinese and Russian friendship from generation to generation. To establish a FTA of Sino-Russia will be conducive to the development of economic and trade cooperation between two countries deeper and wider..Russia’s accession to the WTO will be a landmark event to promote the establishment of the bilateral FTA. The Sino-Russian economic and trade cooperation will be more standardized and has an international direction. The two sides will reach more consensuses on a range of issues in the reduction of tariffs and others to achieve the purpose of mutual benefit and win-win ultimately. Both of the countries can make use of the advantages of their political, geographical, complementary resources and other aspects to establish a FTA of Sino-Russian because of the common interests.There is a comprehensive exposition of the FTA theory. This paper is focus on analyzing the change comparatively between before and after Russia access to the WTO. The theory reasoning analysis and measurement regression are used to demonstrate the improvement of the benefits effect by reducing trade barriers after the Russia access to the WTO. It will fully explain the positive impact of Russia’s accession to the WTO on establishing FTA of Sino-China. And on this basis, the suggestions to promote the Sino-Russian FTA are put forward.