Russia’s Accession To WTO And Its Impact On Chinese-Russian Economic Trade Relations

Since1993, Russia has endeavored in the accession to the WTO for over18years’history of difficult negotiations. At present, Russia has mainly eliminated the major obstacles for entering into the WTO and the accession is imperative. Russia, as China’s important trade partner, will have a profound impact on bilateral trade and economic cooperation after joining the WTO. Therefore, in-depth study on influence of Sino-Russia bilateral economy and trade after Russian accession to the WTO, and the positive development of effective policies have play a very important role for the two countries to expand economic cooperation and deepen the strategic partnership of coordination. Russia was by far the biggest economy yet to join the global trade body. It is also the last member of the Group of20major economies to join, after China gained membership in2001.The White House said US President Barack Obama called Mr. Medvedev to congratulate him on Russia’s admission."After accessing to the WTO, Russia will reduce tariffs on some commodities based on relevant WTO principles and rules, which is extremely beneficial for expanding China’s exports to Russia.