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Risks and Development Prospects of the Russian Foreign Trade in the Conditions of the World Trade Organization

Author: Viktor V. Kilin, Associate-Prof. of Marketing & International Management Dept.

Abstract: The article discusses the issues of foreign trade development under the conditions of Russia’s membership in the World Trade Organization. The dynamics of Russian export and import is analyzed to demonstrate that it is essential to minimize the resulting risks and enhance the effectiveness of the Russian Federation’s membership in the WTO. Finally, the article concludes that the process of adaptation to the WTO’s norms and rules in Russia can be characterized as consistent, progressive and productive, going on without any excessive effects or serious shocks.

Key words: foreign trade; the World Trade Organization (the WTO); globalization; import; integration; customs charges; export.