Macroeconomic Consequences of Russia's WTO Membership: Foreign Trade Aspect

Abstract

The World Trade Organization was created to develop and diversify world markets, establish common rules and principles for the interaction of participating countries in the implementation of trade in goods and services. Nineteen years — so much continued the period of Russia's accession to the WTO. The result of participation in this organization was a radical change in legislation concerning Russian foreign economic activity, the transformation of tariff and non-tariff methods for regulating foreign trade, the creation of new information and control centers. The article analyzes the historical features and stages of the Russian Federation's accession to the WTO, as well as the main changes in legislation, regulatory methods and forms of control related to Russia's foreign economic activity. The results of the impact of changes in customs duty rates on foreign trade turnover and, as a consequence, on the receipt of customs payments to the federal budget are summarized. The problems of interaction with the WTO member countries that exist today are revealed. The expediency of Russia's further participation in the World Trade Organization is being considered. Further directions of cooperation development corresponding to modern realities are proposed.