RF withdraws import duty on manufacturing equipment
21 Dec '05
2 min read
The World Trade Organization informed that the Economic Development and Trade Minister German Gref of Russian Federation (RF) remove duty on manufacturing equipment.
The interdepartmental commission on protective measures in foreign trade decided to reduce to zero the rates of import duties for manufacturing equipment, Russian Minister for Economic Development and Trade German Gref told the press on Tuesday.
The commission has taken a decision to reduce to zero the import duties on 635 types of manufactirung equipment for 9 months, noted Mr. Gref.
The World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT) which existed since 1947, began to operate on January 1, 1995. The WTO is designed to regulate the trade-political relations of the members on the basis of agreements of the Uruguay round of multilateral trade talks (1986-1994), the legal foundation of modern international trade.
At the initial stage, special Working Groups (the Working Party for Russia's accession includes 58 countries, including all the main trade partners of Russia) discuss in detail on a multilateral basis the economic mechanism and trade-political regime of the acceding country and check them for compliance with the rules of the WTO.
This is followed by consultations and talks about the terms of the acceding country's membership. These consultations and negotiationsare usually held on a bilateral basis, involving all the interested parties of the working group.
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