[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
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Featured
More than 400 gaming dens operate on native lands, but critics say social ills and inequality stack the deck.
The Palestinian president is expected to address the UN with a new proposal for the creation of a Palestinian state.
Nearly 1,200 aboriginal females have been killed or disappeared over 30 years with little justice served, critics say.
Ethnic violence has wracked China's restive Xinjiang region, leading to a tight government clampdown.
Malay artists revitalise the art of puppeteering by fusing tradition with modern characters such as Darth Vader.