[QODLink]
Europe
Russian fears over WTO membership
Economists predict some locally owned businesses will suffer losses as lower trade barriers boost foreign competition.
Last Modified: 22 Aug 2012 12:46

After two decades of negotiations, Russia has joined the World Trade Organisation.

The lower trade barriers that come with membership will open up new opportunities for foreign businesses. Russian leaders say ordinary consumers will benefit as well because it will lead to lower prices.

But economists predict the move will have a negative economic impact for some Russian businesses due to increased foreign competition.

Al Jazeera's Melissa Chan reports from the southern city of Krasnodar.

74

Source:
Al Jazeera
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
A political power struggle masquerading as religious strife grips Nigeria - with mixed-faith couples paying the price.
The current surge in undocumented child migrants from Central America has galvanized US anti-immigration groups.
Absenteeism among doctors at government hospitals is rife, prompting innovative efforts to ensure they turn up for work.
Marginalised and jobless, desperate young men in Nairobi slums provide fertile ground for al-Shabab.
The Khmer Rouge tribunal is set to hear genocide charges for targeting ethnic Vietnamese and Cham Muslims.
join our mailing list