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How much does wine cost in WTO?
25.07.2012 18:17 "Agro Perspectiva" (Kyiv) —
Will imported wines grow cheaper after Russia joins the WTO? How will the country’s accession to the WTO influence food prices in general on the domestic market? Will the WTO membership attract more foreign investment to Russia?
Alexei Portansky, a professor of the Higher School of Economics and head of the WTO accession information bureau, believes that prices for imported wines will go down, while domestic winemakers will find it easier to sell their own wines because new opportunities will open up for them:
«A large number of discriminatory restrictions on Russian exports, through which Russia loses $2.5 billion annually, will be lifted. Things will look up for our exporters abroad. Since our budget depends 40% on foreign economic activity, it will be better for the budget and for the entire economy.»
The steelmaking and chemical industries stand to gain the most from Russia’s accession to the WTO, the light industry and car manufacturing are in the risk zone. But there won’t be any shocks.
Deputy Economy Minister Alexei Likhachyov pointed out that small and medium-scale business, especially in the regions, would particularly benefit from the WTO.
«In my opinion, the positions of mid-size businessmen and of regional business will not be affected at all. On the contrary, they will receive additional opportunities. Our department will promptly help companies to learn how to make use of those opportunities, how to put them into practice.»
On July 23, Russia notified the WTO Secretariat that it had completed the accession procedure. The official admission will take place on August 22.
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