Open AccessTHE ANALYSIS OF THE WTO’S ROLE IN THE INTERNATIONAL TRADE OF RUSSIA AND THE RESTRICTIONS IN 2011–2020
Author(s) -
S. E. Demidova,
M. M. Balog
Publication year - 2022
Publication title -
vektor nauki tolʹâttinskogo gosudarstvennogo universiteta. seriâ èkonomika i upravlenie
Language(s) - English
Resource type - Journals
ISSN - 2221-5689
DOI - 10.18323/2221-5689-2022-1-5-16
Subject(s) - international trade , context (archaeology) , tariff , international economics , economics , liberalization , trade barrier , developing country , free trade , market access , commercial policy , business , economic growth , paleontology , market economy , biology , ecology , agriculture
The paper deals with the analysis of the essential documents of the World Trade Organization (WTO), fiscal and financial requirements, and restrictions contained in them, which influence international trade. Based on the analysis, the authors made an effort to group the principles of institutional international trade relations, relevant tools, and mechanisms of their implementation, highlighting the exceptions. The paper analyzes Russian foreign economic activity indices for 2011–2020 in the context of the total volume of international trade, relative dynamics of indices, international partners (foreign countries); critically evaluates the statistical data on net export. The authors consider the application of WTO’s tools to support Russian export potential during the first year of the coronavirus pandemic spreading. The paper lists the countries and export goods, in respect of which the intentions to introduce restrictive measures were adjusted, and the states employed the heaviest restrictions on Russian commodities. The authors conclude that due to the trade liberalization, the developed and large-scale economies, ready for the radical tariff restrictions reduction, gain foremost; the restrictions adversely affect countries, which do not have production facilities; negative outcomes emerge for a country imposing restrictions when exporting raw materials. The reduction of import goods tariffs for the less developed countries causes the exclusion of native manufacturers from the country’s local market, the decline in manufacturing. The authors sum up the conclusions about the WTO’s role in international trade. WTO principles aim to develop trade relations between countries, but the participants should have relevant commercial intentions. Based on the analysis of statistical indicators, the authors specify the problems and prospects of Russian trade relations, including those involved in the change of countries-stakeholders. A local domestic market where competitiveness persists mainly due to customer intimacy becomes prevailing for primary sales.