Russia's Bid to Join the WTO Analytical Essay by Carly Evans

An analysis of Russia's 18-year battle to join the World Trade Organization and the implications of finally achieving this objective in 2011.
# 150606 | 1,913 words | 5 sources | APA | 2012 | US


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Description:

The World Trade Organization is the largest organization for international trade, offering its members security in trade, diplomatic assistance, and access to secure trade with nations from all over the globe. For this reason, Russia has been working to join the World Trade Organization for 18 years, a goal that was finally realized in late 2011. This paper looks into the journey Russia took from its first application in 1993 to the final realization of WTO approval in 2011, and what comes next for the economic giant.

Table of Contents:
Joining the World Trade Organization
Russia's History with the World Trade Organization
Hurdles toward WTO Membership
Russia Joins the WTO
The Next Steps

From the Paper:

"The World Trade Organization (WTO) was established in 1995 as an international organization to ensure the fair trade between nations, as well as ensure that trade flows freely and smoothly (World Trade Organization, 2012). This allows World Trade Organization participating nations to use the organization as a means of monitoring trade, resolving possible disputes, and building upon trade opportunities. Aside from official WTO business, the organization promotes trade among members, putting both large and small economies in touch with one another in a way that may not otherwise have occurred. Because of this, nations large and small have joined the WTO, and becoming a member has become a sort of treaty with all member countries, ensuring fair and equal trade between them, and a vow to resolve disputes with the assistance of a WTO mediator, rather than aggression and/or violence.

"The alluring benefits of membership into the WTO have lead Russia into an 18-year battle to join the organization. A battle that was only just resolved in December of 2011 with Russia's acceptance into the WTO. While Russia faced a huge uphill battle for approval by the WTO, its joining doesn't come as much of a shock. As of early 2011, Russia was the last of the world's large economies to be an observer of the WTO, and not a member (BBC News, 2011). Thus, it only made sense that Russia would eventually join the organization. Even China had already joined the WTO in 2001, making Russia not only the last large economic power to be an outsider of the organization, but also the last of a "group of 20 major economies to join" (BBC News, 2011)."

Sample of Sources Used:

  • BBC News (2011). Russia Becomes WTO Member After 18 Years of Talks. http://www.bbc.co.uk/news/business-16212643
  • Coalson, R. (2011). Russia's 17-Year Bid to Join the WTO Faces One Last Hurdle. http://www.rferl.org/content/russia_wto_bid_faces_last_hurdle/24095878.html
  • Jolly, D. (2011). WTO Grants Russia Membership. http://www.nytimes.com/2011/12/17/business/global/wto-accepts-russia-bid-to-join.html?pagewanted=all
  • Miles, T. Busvine, D. (2011). UPDATE 4-WTO approves Russia's Membership After Marathon. http://www.reuters.com/article/2011/12/16/trade-wto-russia-idUSL6E7NG2ZW20111216
  • World Trade Organization (2012). What is WTO? http://www.wto.org/english/thewto_e/whatis_e/who_we_are_e.htm

Cite this Analytical Essay:

APA Format

Russia's Bid to Join the WTO (2012, March 22) Retrieved December 07, 2021, from https://www.academon.com/analytical-essay/russia-bid-to-join-the-wto-150606/

MLA Format

"Russia's Bid to Join the WTO" 22 March 2012. Web. 07 December. 2021. <https://www.academon.com/analytical-essay/russia-bid-to-join-the-wto-150606/>

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