Petrochemistry: Life after the WTO

On 22 August 2012 after eighteen years of negotiations Russia became a member of the World Trade Organization ("WTO"). Russia's WTO accession provided for a full access of the national products to international markets and guarantee of their equal treatment on the world markets. However, the membership also gives rise to concerns of competitive strength of Russian industry sectors due to the increased share of imported products and restrictions on the state to support national industries. The article is devoted to the WTO's principles, ways of their implementation in the national law and the Customs Union regulations. It also covers national petro chemistry station and available state support measures set out by the WTO's regulations and national legislation.

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