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Federation Council to Ratify Protocol for Russia to Join WTO

18.07.12

On July 18, 2012 the Federation Council of the Federal Assembly of the Russian Federation passed the draft federal law “On Ratification of the Protocol for the Russian Federation to Join the Marrakech Accords on Foundation of the World Trade Organization of April 15, 1994”.

The Minister A.R. Belousov delivered a speech at the plenary meeting of the Federation Council on consideration of the bill “On Ratification of the Protocol for the Russian Federation to Join the Marrakech Accords on Foundation of the World Trade Organization of April 15, 1994”.

Moscow. July 18. INTERFAX - Federation Council to Ratify Protocol for the RF to Join WTO.

 The meeting of the upper chamber of the Parliament held on Wednesday passed the law “On Ratification of the Protocol for the Russian Federation to Join the Marrakech Accords on Foundation of the World Trade Organization of April 15, 1994”.

 144 senators voted for ratification of the protocol to join WTO, 3 senators voted against, and there was none abstained.

As reported, on July 10 the protocol was ratified by the State Duma (238 deputies voted for the ratification, 208 voted against, and one deputy abstained).

The law on ratification of the protocol for the RF to join WTO requires the Russian Federation President’s signature as well.

According to the Minister for Economic Development Andrey Belousov, who spoke during the Federation Council session, already on September 1, 2012 a new stage of performance of the RF obligations to WTO to reduce the common customs tariff (average weighted import tariff – IF) will commence, and further each year on September 1 this rate will be decreased up to 2015. Then the tariff will be stabilized approximately at the level of 2015. According to him, the tariff will be in average decreased by about 3.5. percentage points. At present it makes some 9.5%, in 2013 it will amount to 7.4%, in 2014 – to 6.9%, and in 2015 this tariff will make about 6%.

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