Term Paper on "WTO and Russia"

Term Paper 4 pages (1233 words) Sources: 4 Style: MLA

[EXCERPT] . . . .

Russia and the WTO

Membership in the World Trade Organization (WTO) benefits the trade posture of member nations and so is sought as a way of gaining access to more external markets. WTO membership has been important in China, for example, and Russia has also sought membership, though Russia has also experienced some opposition.

When Russia changed its form of government after 1989, it also sought to join the world trade in goods and services just as China has been trying to do. Russia also liberalized domestic trade and eliminated many non-tariff restrictions on foreign trade. State-subsidized imports were phased out in 1994 along with the system of quotas and licensing for exports. To increase foreign trade in the future, Russia applied in June 1993 to the General Agreement on Tariffs and Trade (GATT), the predecessor to the World Trade Organization (WTO). The United States supported Russia's efforts to join the WTO, and Clinton and Yeltsin set a target date for Russia to gain admittance (Background Notes 7).

By 1997, Russia's average tariff rate was 13%. Russia had a trade surplus since 1993 with major trading partners in Europe and the United States. China and Japan also had a strong trading presence in Russia, and the nation had a strong presence in the industrialized products markets in the NIS. Russia also continued to supply large amounts of energy to the NIS at a discount (Background Notes 7).

Russia and the United States also worked to advance bilateral co-operation through eight working committees and several working groups known as the U.S.-Russian Joint Commission on Economic and Technological Cooperation (the Gore-Chernomyrdin Commission). The committees addressed issues in the fields of science and technology, business development, space, energy policy, environmental protection, health, defense conversion and agriculture. In addition, the commission provided for high-level discussions of high priority security and economic issues ("Russian Outlook Improving, but Still Uncertain" 29).

Becoming a member of the WTO (referred to as "acceding to the WTO") involves a process set forth by the organization. Any state of customs territory with full autonomy in the conduct of its trade and economic policies is eligible, if WTOI members agree to the terms. There are four stages to the process. In the fist stage, the applicant must describe all trade and economic policies that bear on WTO agreements. This data is submitted in the form of a memorandum, and this document is then examined by the working party created to deal with the country's application. Such working parties are open to all WTO members.

The second stage involves working out elements of the trade policies of the applying country. This stage is conducted in the form of bilateral talks between the prospective new member and individual countries. Different countries have different trading interests, and talks cover such elements as tariff rates and specific market commitments. Even though commitments made by the prospective member are developed in bilateral talks, the provisions agreed to apply equally to all WTO members under non-discrimination rules. These talks can be very complex.

In the third stage, membership terms are drafted by the working party, which publishes these provisions in a report along with a draft membership treaty and lists of the commitments made by the applicant. In the last stage, the final package is presented to the WTO General Council of the Ministerial Conference. It requires a vote of approval by a two-third majority, after which the applicant may sign the protocol and accede to the organization. The country's own parliament or legislature may also have to ratify the agreement for membership to be complete ("Membership, alliances and bureaucracy" paras. 1-4).

Observers note that Russia's accession has been contentious both domestically and… READ MORE

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