The Federation Council of Russia has ratified the protocol on WTO membership on Wednesday, RIA Novosti reports.
The protocol on the Russia’s joining the Marrakesh agreement was signed in Geneva on December 16, 2011. Russia has 2-3 years to liberalize market access and 5-7 years of transition for some of the most sensitive goods.
Car manufacturing, agriculture, agricultural engineering, light industry are the areas that may experience economic and financial problems.
The Constitutional Court saw no violations in implementation of the WTO membership protocol.
