Russia'S Accession To The WTO Has Become A Good Product Of China'S Electromechanical Textile Products.

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Russia's accession to WTO will undoubtedly open up a new page in Sino Russian economic and trade relations.

Analysts pointed out that Russia's accession to the WTO will play an all directional role in promoting trade and investment between the two countries.

The decline in tariff level after Russia's accession to the WTO is undoubtedly good news for China's expansion of exports.

More importantly, the normalization of the trade system and the improvement of the investment environment have a more far-reaching impact on the development of Sino Russian economic and trade relations.

Zhang Jianping, director of the International Economic Cooperation Research Institute of the Foreign Economic Research Institute of the national development and Reform Commission, told reporters that the trade between China and Russia is relatively low at present, only about 90 billion dollars.

At the same time, Russia's demand for Chinese products is still high, especially for manufactured goods, light industrial products and so on.

"I believe that after Russia's accession to the WTO, trade facilitation measures such as pparency of its policies and regulations, customs clearance procedures, commodity inspection and quarantine procedures will follow up, and will promote the improvement and development of bilateral trade."

Zhang Jianping said.

Specifically, according to the WTO accession agreement, the overall tariff level of Russia will fall to 7.8% from 10% in 2011.

"Russia's tariff cut is not as great as we think it is, and there are 3-8 years of pition for different products.

But tariff cuts are good news for us to expand exports. "

Liu Huaqin, deputy director of the European Research Department of the Ministry of Commerce, told reporters.

The reporter has learned that electromechanical and textile products are the most important products exported to Russia in China.

The share of both accounts for the vast majority of exports.

As the development of Russian light industry is lagging behind, light industry products have maintained higher import tariffs, such as wool spinning.

The duty is 12%, and the leather duty is 30%.

Liu Huaqin analysis, theoretically, Russia's import tariff reduction is beneficial to our country, but depends on the specific product decline.

For example, mechanical and electrical products are the largest share of our export share, accounting for about 30% of the total export share. Its overall tax rate has dropped from 8.4% to 6.2%, reducing by 2.2 percentage points, from 15.5% to 12%, and its tariff reduction is more favorable for us to expand exports.

"And we haven't seen it yet.

The situation of tax reduction. "

Liu Huaqin said.

According to analysis, as Russia imports more than 60% of its total imports from China, it has not substantially cut tariffs on textiles and clothing to promote the import of Chinese products.

In China's import, Russia's accession to the WTO has not had a particularly significant impact.

Liu Huaqin pointed out that, because more than 70% of Russian exports are raw materials, such as oil, natural gas, timber, steel and so on, they are zero tariffs or very low tariffs in most countries of the world. "As long as it exports, most countries need it."

So there is no big impact. "

In addition to trade, joining WTO means that Russia is more welcoming foreign investment, and with the rules of WTO safeguards, our investment space in Russia will also increase significantly.

Russia has made some commitments to expand its service industry in its WTO commitments.

Among them, there are 16 service areas and 116 service sectors, including finance, insurance, telecommunications, railway pportation and retail business.

"Opening up these fields is also beneficial for us to increase our cooperation with Russia."

Liu Huaqin said.

"In terms of investment, Russia will also make some commitments in terms of market access and national treatment. It can be expected that there will be some improvements in the investment environment, so as to form a pattern of mutual promotion between trade and investment."

Zhang Jianping said that this effect is bidirectional.

More importantly, since Russia's accession to the WTO, the laws and regulations of the whole external economic activities should be adjusted according to the requirements of the WTO rules and multilateral trading system. The normalization and pparency of the law will be enhanced. China and Russia will cooperate under the framework of the WTO multilateral trading system. Everyone must abide by the same rules and systems, and have more common language to understand each other better.