Press review: Aleppo's gradual liberation and new forces guarding Russia's HmeymimPress Review December 08, 13:00
EU Council, European Parliament reach compromise on visa-free travel for UkraineWorld December 08, 12:51
Russia’s Defense Ministry rejects reports of pilotage error as cause for Su-33 crashMilitary & Defense December 08, 12:45
Assad says Aleppo’s seizure won’t be end of war in SyriaWorld December 08, 12:29
Prosecutor seeks 5-year sentence for a female student for trying to join ISRussian Politics & Diplomacy December 08, 12:26
Putin points to priority of boosting transportation projects with Asia-Pacific statesBusiness & Economy December 08, 11:43
Two Ukrainians charged in absentia over abduction of Russian servicemenWorld December 08, 11:33
Top diplomat says Philippines should no longer be Washington’s ‘little brown brother’World December 08, 11:18
China condemns militant attack on Russian hospital in AleppoWorld December 08, 11:16
MOSCOW, November 16 (Itar-Tass) —— Negative consequences from Russia’s joining the World Trade Organization /WTO/ may be for only several sectors, and they will be caused by moderate lowering of import duties, Director of trade negotiations department at Russia’s Ministry of Economic Development and head of Russia’s delegation at the negotiations on accession to WTO Maxim Medvedkov told a news conference at ITAR-TASS on Wednesday.
Weighted average import tariff in Russia makes 10.293 percent now, the initial level of the tariff after the joining will make 11.85 percent, as Russia has included higher duties in the tariff for certain goods. Following the transition period for certain goods, the final level of import tariff will make 7.147 percent. As a rule, transition periods last for 2-3 years, and for most sensitive goods – 5-7 years.
Russia has conducted ten studies of consequences from Russia’s joining the WTO, Medvedkov said.
“The most pessimistic one is possible lowering of Russia’s GDP by 0.5 percent,” he said. “Other studies, including that by the World Bank, say that the joining will not harm in any way the country’s economy or its sectors,” he said.