Russia's WTO entry paves way for increased fresh produce trade

After 18 years of negotiations, Russia has finally been accepted into the WTO.

This is likely to be of significant benefit to the food and drink sector. Russia is already a large importer of foods and, now it is a WTO member, access to the market will be improved.

Russia will now have to adhere to the trade policies and sanitary-phytosanitary measures as dictated by the WTO. Reduced import tariffs on agricultural products will also improve trade between Russia and other countries, both developed and developing.

Turkey and Chile, which export grapes to Russia, will benefit from the drop in tariff on grapes from 10 percent to 5 percent.

Until now, only countries of the Commonwealth of Independent States, of which Russia is a member, could enjoy free trade with Russia. This agreement is likely to be respected by the WTO.

Russia's acceptance into the WTO is likely to pave the road for other CIS countries like Kazakhstan and Belarus.

Source: foodworldnews.com

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