Russia Is About To End Its 19 Year Long Run Into The World. China'S Exports Of Shoes, Shoes And Hats Are Facing New Rivals.

Russia, the world's only major economy outside the WTO, will end its 19 year long runaway in next month.

Maxim Medvedkov, director of the Department of trade negotiations of Russia's Ministry of economic development, said Russia will become a member of the WTO in August 23rd.

The further opening of the big power market is pushing China Russia trade into the "best time".

However, experts say that in the international market, Russia, which has a strong foundation for heavy industry, may also become China's "new rival".

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The federal law of the World Trade Organization agreement marks the completion of the relevant legal procedures of Russia's accession to the WTO.

Russia issued a notice to the WTO that according to WTO's regulation, Russia will formally join WTO 30 days later, that is, August 23rd.

Bai Ming, deputy director of the international market research department of the Ministry of Commerce, said in an interview with reporters that there was not much trade barrier between China and Russia. Therefore, Russia's accession to the WTO will have little impact on Sino Russian trade in the short term.

But tariff concessions will still be given to China.

12%, leather clothing tariffs amounted to 30%.

Statistics show that Sino Russian bilateral trade volume exceeds US $83 billion in 2011. The two countries plan to increase bilateral trade volume by US $17 billion over the next three years, reaching US $100 billion and reach US $200 billion by 2020.

In addition to the field of trade, in the field of finance, energy and other services and investment, Chinese enterprises are also seeking opportunities for Russia to join the WTO.

Liu Jianwei, President of Bank of East Asia, Harbin branch, is planning to extend the banking business tentacles. He has revealed that if the policy allows, Bank of East Asia will open Suifenhe branch next year to provide more financial services for Suifenhe ports and Sino Russian enterprises.

He also wants to let Russian enterprises or Sino Russian joint ventures with financing needs in Hongkong achieve capital needs through the Bank of East Asia.

The role of Russia's accession to the WTO in promoting regional economic integration in Northeast Asia can be predicted.

There will be explosive growth in the demand for capital between China and Russia.

WTO accession will improve Russia's investment environment

It is a key condition for Russia to join WTO, and is also the most concerned issue for China's foreign trade enterprises.

According to the agreement, after Russia's accession to the WTO, the average tariff level of Russia will gradually decrease from 9.5% now to 7.4% in 2013, down to 6.9% in 2014 and 6% in 2015.

The issue of WTO accession is controversial in Russia.

Opponents fear that after tariff reductions, the prices of imported products will be reduced and domestic products will lose competitiveness.

Regarding this, Bai Shuqiang, a Russian expert at the University of foreign trade and economics, told reporters that the quality of a country's economy depends largely on whether its internal system is in line with the requirements of global competition.

Russia lacks a competitive environment and monopolies in energy resources, pportation and raw materials. Accession to the WTO will prompt Russia to integrate into the global economy on a more legal and fair platform.

The entry into WTO will form a forced mechanism to improve Russia's investment environment.

In May this year, Russian President Putin signed a decree, hoping to increase the number of rankings from 120th to the top 20 in the World Bank (micro-blog)'s business environment index ranking in a few years.

After joining the WTO, Russia must act according to international rules. Once there is friction, the two sides can also solve it with multilateral channels.

Bai Shuqiang said.

Today's history

Financial past

In July 25, 1997, shareholders of Boeing (micro-blog) and MacDonald Douglas held their respective shareholders' meetings, and shareholders approved Boeing's plan to annex McDonnell Douglas.

The new Boeing company will occupy 70% of the world's 100 or more passenger aircraft market after its establishment, which is far ahead of its only competitor, the European Airbus Company, and the two major aviation equipment manufacturers have launched a real sense of oligopoly competition.

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China is also facing new competitors.

However, many experts also pointed out that in the long run, in the process of cutting the "big cake" in the international market, Russia's accession to the WTO or becoming China's new competitor.

Bai Ming said that China and Russia are mainly complementing the industrial structure. Russia imports a lot of light industrial products, automobiles and electrical appliances from China. Russia is more raw material suppliers to China, such as oil, natural gas, raw materials and accessories.

But Russia is not only a large resource country, but also has strong high-tech manufacturing capability. The foundation of heavy industry is strong.

At present, China is changing the mode of economic growth and upgrading the high-end manufacturing industry, but this is a slow time.

In the international market, the two sides may compete in this field.

Bai Shuqiang also pointed out that Russia's industrial base is good, "if there is a suitable platform, economic development will be very strong and stamina."

The world bank's report this March describes the bright future of Russia after its accession to the WTO.

The report said that the first 3 years after the entry into the WTO, the income brought to Russia by the accession to the WTO would be 3.3% higher than that of Russia's gross domestic product (GDP), or 49 billion dollars in monetary terms, and 10 in the next 10 years, which would be 11% of the GDP, or 162 billion US dollars.