“A year in WTO: how has competitive capacity of Russian goods changed in the world market?” FBK at the Finam.ru on-line conference

On 5 July  Andrey Sinyagin, FBK director of the department for consulting services to the public sector spoke at the online conference of “A year in WTO: how has competitive capacity of Russian goods changed in the world market?”, organizes by Finam.ru portal. 

“Russia’s joining the WTO was negotiated over 18 years, and we got comparatively mild terms of entering into the WTO,” reminded the expert. “Of course, it is not feasible to feel the advantages a year after the entry. Besides, the government support to the programs of adjustment to the WTO membership environment falls behind the formal steps set forth in the Agreement. Nevertheless, it is very important now to draw conclusions from the first year of being in the WTO, which will allow producers and consumers to feel positive effect of Russia’s joining the WTO.”

The economist reminded that a number of experts forecast the increase of negative aspects in the economy of Russia, and first and foremost, in the agriculture, right after the country’s entry into the WTO; but it is difficult to make unambiguous conclusions about the results of being with the WTO for one year only. “Last year there were over 70 various restrictive measures for Russian goods abroad (antidumping duties, non-tariff measures, quota restrictions, extra taxes, excises on a discrimination basis, etc.), continued the expert. “And the entry of Russia into the WTO was directed towards consistent overcoming of these discrimination measures for the producers of domestic goods.”

According to the poll conducted by Strategy Partners Group, one third of top-managers and owners of large Russian companies see the negative impact of entry into the WTO on the economy. However, according to A. Sinyagin, joining the WTO is “a necessary reaction to the global challenges”. By his forecast, under the competent policy the Russian people will be able to feel the advantages of WTO membership in 5-7 years.

In the conference also took part Andrey Danilenko, Chairman of the Board of National Union of Milk Producers, Alexey Portansky, HSE RI Professor, Pavel Grudinin, “Sovkhoz imeni Lenina”, director, Andrey Palyanov, Finam Management analyst, Sergey Khestanov, ALOR managing Director.