The State Duma considers Russia’s withdrawal from the World Trade Organisation (WTO)

We can agree with the opinion that dividends from joining the WTO turned to be lower than for some other countries such as China and Vietnam. China and Vietnam joined the organisation significantly earlier, in a period that was more favourable for the global economy and investment and wh ere there was less protectionism. Then a considerable investment inflow took place. We have not had anything similar.

In addition, despite the long accession period, we joined the WTO not fully prepared. On the one hand, we managed to agree that the market opening process will be gradual and stepwise, as distinct from many CIS countries. At the same time, we lacked experts in legal issues concerning international trade. After joining the WTO, there were many filings against us to dispute resolution bodies.

Despite all these difficulties, there are important positive consequences as well. First, we can pursue a comprehensive foreign trade policy. Before accession, the majority of countries built alliances and were not very keen to cooperate with us. They waited for accession to complete and some certainty to emerge in our foreign trade regime. In addition, we can promote integration in Eurasia in a more active and comprehensive manner. Finally, America had to abolish the Jackson-Vanik amendment and opportunities for other countries to neutralise protectionism have improved significantly, although these factors could not be neutralised in full. This is also due to the fact that the organisation itself is at a low ebb.

To summarise, I would say that accession had both advantages and disadvantages, but the overall balance suggests that this stage should have been completed to develop integration on an equal basis and form trade alliances.