Entry to the Russian Market. First Step. First Challenge
Olga Kulikova, In-house Legal Counsel, Nord Imperial (ONGC group), Russia
The World Trade Organization (WTO) is an international organization based on the principles of liberalism and which its main aim is to regulate the rules of international trade. One of the general advantages of WTO membership is a more favorable access to international goods and services markets on the basis of predictable and stable development of trade relations with WTO member states, including transparency of their foreign economic policies.
In December 2011 the Russian Federation became a member of the WTO after almost 20 years (1995-2011) of negotiations. Experts worldwide especially from within the Russian Federation argue about the positive and negative consequences of acceptance of the Russian Federation to the WTO, but nobody denies the fact that the Russian Federation has become an attractive market for foreign investors. One of the main aims of the government of the Russian Federation through becoming a member of WTO is to attract investors from all over the world and to increase the positive image of the country within the WTO country-members. However investors cannot forget that entry to the market can be not easy from the legal point of view and starts with the registration of a legal entity on the territory of the Russian Federation.
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