On December 16, 2011 a protocol on the Russian accession to the World Trade Organization (WTO) was signed. After its ratification, the protocol becomes an international treaty for the Russian Federation.
Strategic objectives of Russia's participation in the WTO include, include:
- fostering a multilateral system of rules of international trade based on equality of rights and obligations of participants and effective procedures for the elaboration, adoption and implementation of solutions, implementing active and constructive positions towards expanding the number of areas of WTO work sphere;
- providing favourable conditions for access of Russian goods, services and investments in foreign markets, protection of the rights of Russian suppliers and investors;
- monitor the implementation of commitments by WTO members in areas of the system, current or potential interest for Russia and its business.
Russia did not adopt the commitments on the equalization of domestic and world energy prices, on foreign companies’ access to natural resources, on refusal to regulate imports or exports, on the termination of state-owned companies, on permission to import food or medicine, the use of which may be harmful to health, and so on.