In an increasingly globalised economy, new opportunities for investment as well as competition became a widespread phenomenon. Enterprises and industries are under increased competitive pressures and hitherto competitive advantages are called into question. So, the World Trade Organization (WTO), with its rules and commitments, creates an open, transparent and non-discriminatory global trading system having in that way central role at this new economic environment.
Russia had been seeking membership to the WTO since 1993 as it was the largest economy in the world outside the organization. Initially, problems as corruption and the deficient legal framework hinder the creativity of new investors. Yet, Russia makes significant efforts to overcome these obstacles and, finally, after almost 19 years of negotiation its accession to the WTO, is a big success. Actually, paves the way for growth as well as for new economic and trade relations among the countries members.
Of course there are a lot of questions regarding the pros and cons of this accession for Russian enterprises and the benefits that Russian national economy cash in. Also, crucial issue besides the liberalization of trade and services presents the protection of intellectual property rights and the amendments that Russia has to implement in order to be harmonized with the spirit of WTO. Moreover, trade ties between Russia and USA come under question as trade relations with EU are currently under revision.
This dissertation in the first chapter outlines the role of WTO with its rules, commitments and principles for the global trade system. In the second chapter, follows a brief view of the originality of Russian market and the reasons that make it attractive for foreign investment and trade, as well. Then, the third chapter gives a short description of the Russian effort to enter the WTO all the previous years, including problems that hindered the accession until recently. The fourth chapter outlines trade ties between Russia and USA and the problems arising with the Jackson – Vanik Amendment after the Russian accession to the WTO. Equally, the fifth chapter describes trade relations between Russia and European Union. In this context, EU taking into consideration the current situation, with Russia member of the WTO, tries to secure its trade interest reviewing the existing bilateral agreement with Russia.
Finally, concluding remarks are trying to shed light at the facts attempting to clarify the positive aspect of the Russian accession to the WTO both for Russia itself and the global trading system as a whole.
Διπλωματική εργασία--Πανεπιστήμιο Μακεδονίας, Θεσσαλονίκη, 2012.
