Russian betting horses join the WTO agreement

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The Russian State Duma adopted a simple majority by Russia on July 10 to join the World Trade Organization agreement, which means that Russia will formally become a member of the WTO one month later.

The voting results for the day were 238 votes in favor, 208 votes against and 1 abstention. The Russian State Duma has 450 parliamentary seats, and the WTO accession agreement requires at least 226 votes to pass. After 18 years of arduous negotiations, the WTO WTO Working Group of Russia adopted the final text of the Russian agreement on WTO access on November 10, 2011. On December 16, the WTO's eighth ministerial meeting formally approved Russia’s accession to the WTO.

Recently, around the approval of Russia’s WTO accession agreement, the Russian State Duma’s various party groups have launched heated discussions. As it is feared that the entry into the WTO will damage the interests of domestic companies, the Communist Party of Russia is opposed to ratifying the WTO accession agreement. The fair Russian party caucus believes that Russia has not made preparations for WTO accession, and it is proposed to postpone joining the WTO for several years. However, the agreement was finally passed because the United Russia Party, which supports the ratification of the WTO accession agreement, occupied a simple majority in the country’s Duma.

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