The European Union confirmed on Thursday that Russia could join the WTO within the next 12 months, following agreement to phase out Russian export tariffs on raw materials.
Russia’s willingness to phase out export duties on raw materials such as timber — which drive up the cost of inputs for European manufacturers such as the Nordic timber and paper industries — removes a European veto on Russia’s accession.
There are other hurdles remaining to tackle before accession, such as state payments to farmers and ceilings on beef imports entering the country at low tariffs. At some point Russia and other WTO members also will have to address Georgia’s objections to Russian membership of the WTO.
Source: www.themoscowtimes.com