Russia’s automotive industry facing international competition : An analysis of the impact of Russia’s WTO accession
Polyanskiy, Yaroslav (2014)
Polyanskiy, Yaroslav
Metropolia Ammattikorkeakoulu
2014
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201405229222
https://urn.fi/URN:NBN:fi:amk-201405229222
Tiivistelmä
Russia has accessed to the WTO (World Trade Organization) in December 2012. After the accession a various number of changes has to be implemented due to the first years after the accession, in order to make the country’s trade and economy compliant with the WTO’s regulations.
The economy of the Russian state has been recently developing in terms of the exports of the natural resources. A number of industries have been protected from the foreign compe-tition by the local government. In case of the Russian automotive industry, it has been pro-tected by the high import taxes on the foreign vehicles (25% import tax for new vehicles and 30% for vehicles used less than 5 years). This has also brought a number of foreign car manufacturers, such as Renault, Toyota, General Motors to the local markets, utilizing the local manufacturers’ premises for producing the foreign branded vehicles.
Upon the accession to the WTO the import tax on the new light vehicles has to drop to 15% and to 10% for the used light vehicles.
The economy of the Russian state has been recently developing in terms of the exports of the natural resources. A number of industries have been protected from the foreign compe-tition by the local government. In case of the Russian automotive industry, it has been pro-tected by the high import taxes on the foreign vehicles (25% import tax for new vehicles and 30% for vehicles used less than 5 years). This has also brought a number of foreign car manufacturers, such as Renault, Toyota, General Motors to the local markets, utilizing the local manufacturers’ premises for producing the foreign branded vehicles.
Upon the accession to the WTO the import tax on the new light vehicles has to drop to 15% and to 10% for the used light vehicles.