WTO Accession of the Russian Federation - Implications for Pharmaceuticals and Medical Devices

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Russia’s accession to the World Trade Organization (WTO) will create opportunities to increase exports of pharmaceutical products and medical devices. On 16 December 2011, WTO Members accepted the terms of the Russian Federation’s accession. Russia will officially become a WTO Member 30 days following the ratification of its Protocol of Accession, which will take place before 15 June 2012.

As part of its WTO accession agreement, Russia has commitment to reduce and “legally bind” import tariffs on pharmaceuticals and medical devices. Russia must also follow WTO rules on non-tariff barriers, particularly under the WTO Agreement on Technical Barriers to Trade (TBT Agreement), and on the protection of intellectual property, under the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement).

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Published In: Health Updates, Intellectual Property Updates, International Trade Updates, Science, Computers & Technology Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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