Russia - Trade AgreementsRussia - Trade Agreements
On August 22, 2012 Russia formally joined the WTO, and on December 20, 2012 Russia gained permanent normal trade relations (PNTR).
As part of WTO accession, Russia signed the General Agreement on Trade in Services (GATS) that provides a legal framework for addressing barriers affecting trade in professional services. In the services sector, Russia committed to substantial openness in a broad range of sub-sectors, including the elimination of many existing limitations, such as financial services, telecommunications, distribution, energy, express delivery, professional services, and audio-visual services.
Currently nine countries (Russia, Belarus, Ukraine, Moldova, Tajikistan, Armenia, Kazakhstan, Kyrgyzstan, and Uzbekistan) from the Commonwealth of Independent States (CIS) ratified a Free Trade Agreement (FTA), which provides the free movement of goods within the territory of the member states. However, the ongoing conflict between Russia and Ukraine has resulted in a severe disruption of trade between the two countries.
On January 1, 2015 the Eurasian Economic Union (EAEU) was launched, which incorporated the regulations previously set forth in the Russia-Kazakhstan-Belarus Customs Union (CU) formed in 2010, expanded the tariff provisions to cover services, and established unified standards and labeling requirements. The accession of Armenia and Kyrgyzstan came into force on January 2, 2015 and August 12, 2015, respectively.
On December 30, 2015 President Putin signed a Federal Law 410 Suspending the FTA between Russian and Ukraine mentioned above.
On October 05, 2016 the FTA between the EAEU and Vietnam came into force. On December 28, 2016 Russia, Kazakhstan, Armenia, and Kyrgyzstan signed an agreement to start negotiations with Iran, India, Egypt and Singapore about the FTA. Belarus is expected to sign this agreement as well.
Thanks to the EAEU, U.S. exporters can choose one of the five-member countries from which to receive both regulatory approvals, in the form of registration certificates, and declarations or certificates of conformity for those products for which EAEU Technical Regulations (TR) apply.
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Russia Trade Development and Promotion Trade Agreements