Term Paper on "Russian Commenced Their Discussion With the Officials"
Term Paper 9 pages (2366 words) Sources: 5
[EXCERPT] . . . .
Russian commenced their discussion with the officials of World Trade Organization since 1995. The federation is already in the process of developing an understanding and deal with the other members of World Trade Organization, the discussion is based on issues related to reduction of tariff and non-tariff barriers and 'restrictions on good as well the liberalization of the trade activities' (Oliver, 2002). The World Trade Organization has generated 'multilateral agreements, norms, and regulations' which are applicable on the major proportion of the world trade. The Organization established Working Part on Russia, on the recommendations by the General Agreement on Tariffs and Trade in 1993; the task force was assigned to evaluate the 'conformity of Russia's economic policies in relation to the norms and rules of the organization' (Mehmet, 2002). It has been observed that the country has certain reservations towards the operations and expansion of the foreign companies in Russia, the country has expressed its concerns towards provisions for open and unrestricted access of the Russian domestic commodity markets and services, and therefore the country is involved in a transition period to secure benefits by means of conformity to international legal regulations and protection against the discrimination of Russian exports. The Russian authority has justified its policies with reference to the custom tariff on the basis of the legislatives approved by 'the President of the Russian Federation, decisions of the Government of the Russian Federation and legal acts issued by enforcement authorities' (Oliver, 2002), i.e. Decree on Custom Duties promulgated on May, 1993 and Decree on State Regulations of Foreign Trade Activities apprdownload full paper ⤓
Question # 1
The agenda and success of the financial and economic negotiations between the Russian administration, and the EU and United States officials have provided a sense of relief to the local Russian companies. The conclusion of the negotiations led to the recognition of the Russian economy to be Market Economy and this notion and recognition is expected to boost the Russians export, and will also provide relief to the country with reference to the anti-dumping duties. It is anticipated that the 'modernization of the Russian economy' will pave towards 'stable growth in domestic demand, thereby reducing Russia's dependence on the international raw material and oil markets' (Mehmet, 2002), therefore the local Russian companies are able to secure good fortune for themselves, and the accession is expected to provide the local companies with an unrestricted opportunity to access and avail opportunities internally and externally. The accession to the World Trade Organization can not alone provide relief for the local Russian companies, the Russian government has to itself implement and introduce such measures through which the interests of the local investors can be protected, therefore the local Russian companies are not expecting much from the accession of their country into WTO, rather these companies are also looking at Russian government for assistance and support, it is important for the country to 'create conditions conducive towards generating revenue and increasing in-bound investment, and make more effective decisions on how it uses resources and promote goods on the market'. The local Russian companies are extremely critical of the country's economic growth, and wonder whether the accession will improve or deteriorate the current setup, the investment growth of the federation has crossed its GDP growth, but the analysts are still concern that whether the federation has been able to fully avail its investment potential. The local investors are critical about the introduced mechanism for the transformation of the savings into investment, and such measures have been extremely non-profitable, and therefore 'total savings in Russia significantly exceed total capital' (John, 2002). The analysts have criticized the low level of capital flow between the sectors, and it is unlikely that the accession into the Trade Organization will shuffle or improve the condition, the country has already experienced misbalance in 'supply and demand between the export oriented raw materials sectors and the rest of the economy, which is in dire need of capital'. The analysts are hopeful that apart from such concerns, the accession of the federation into WTO will provide a better opportunity for the local investors as the accession will 'complement its internal economic reforms by promoting rule of law, fair competition, transparency and predictability in business and investment' (John, 2002). The Russian… READ MORE
Quoted Instructions for "Russian Commenced Their Discussion With the Officials" Assignment:
In 2006 Russia for the first time assumed the presidency of the G8. Super high oil prices are boosting the economy, and the rouble has become a convertible currency.
And yet Russia remains outside the World Trade Organization and remains an enigma.
*****¢ How might Russian companies view accession to the World Trade Organisation?
*****¢ What sort of opportunities and threats will foreign companies perceive when considering Russia's potential for inward investment, and how might recent events in Russia affect their perception of risk?
*****¢ How would incoming foreign companies have to take account of national cultural differences in their approach to marketing and HRM strategies in Russia?
Please use the Harvard style referencing system.
Thanks.
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“Russian Commenced Their Discussion With the Officials.” A1-TermPaper.com, 2007, https://www.a1-termpaper.com/topics/essay/russian-commenced-discussion/8313683. Accessed 5 Oct 2024.
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