Home  Journals  Finance and Credit  9(537) - 2013 March

Impact of WTO accession of the Russian Federation on development of foreign trade in garment industry

Available online: 6 March 2013

Subject Heading: Financial management

JEL Classification: 

The imminent entry of Russia into the WTO has different implications for the clothing industry enterprises. Information base of the WTO, cross-country communication and transparency for investment, simplified access to world markets are the positive side of Russia's membership in the WTO. Cancellation within two and a half years, import duties and taxes on all major types of garments, the possible removal of subsidies from the state, "someone else's rules" are the negative side of WTO membership. Foreign trade activity in the garment industry when joining the WTO may initiate a rapid development, and come in full decline. The development of foreign trade enterprises in the garment industry will largely depend on government support.

Keywords: WTO, the Clothing industry, foreign trade operations, export financing mechanism

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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