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Russia now member of WTO

Aug 28 2012  Russia's roundwood export tariffs will drop, as Russia now has become a member of the World Trade Organization, WTO.

Russia joined WTO last week as the organization's156th member state after almost two decades of negotiations. The WTO membership will oblige Russia to lower its import and export tariffs.Russia will implement tariff-rate quotas applying to exports of wood to the EU. Russia will impose a quota of 6.2 million cubic meters on spruce, including 5.9 million cubic meters for the EU at a rate of 13 percent within the quota. The export duty will have no formal cap beyond the quota.The quota for pine will be set at 16 million cubic meters, including 3.6 million cubic meters for the EU, with a duty of 15 percent within the quota. There will be no duty cap above the quota.Birch and aspen will not be burdened by quotas, but Russia will impose a seven percent export duty on birch. The tariff on aspen will be five percent.Russia is also set to reduce import duties for paper and board.

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