Rosneft reports massive cyberattack on its serversBusiness & Economy June 27, 15:08
Russia’s advanced drone helicopters to be displayed at defense showMilitary & Defense June 27, 14:56
Russia fully complies with terms of oil production cut deal — Energy MinistryBusiness & Economy June 27, 14:29
Kremlin has no information about pending chemical attacks in SyriaRussian Politics & Diplomacy June 27, 14:26
European Commission fines Google record 2.4 bln euro for abusing dominanceBusiness & Economy June 27, 13:38
Moscow calls to resume dialogue in NATO-Russia Council with participation of militaryRussian Politics & Diplomacy June 27, 13:38
Kremlin does not monitor Russian companies foreign business operationsBusiness & Economy June 27, 13:32
Russian intelligence chief extols covert operatives as cream of the cropRussian Politics & Diplomacy June 27, 13:16
Kremlin disagrees with Macron’s remarks on UkraineRussian Politics & Diplomacy June 27, 13:09
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.