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TRADE: RUSSIA AND THE U.S.

The U.S. exported $9.3 billion in goods to Russia in 2008, a 25% increase from the previous year. Corresponding U.S. imports from Russia were $26.7 billion, up a significant 38% (in 2007 imports were down by 2%). Russia is currently the 28th-largest export market for U.S. goods. Russian exports to the U.S. were fuel oil, inorganic chemicals, aluminum, and precious stones. U.S. exports to Russia were machinery, vehicles, meat (mostly poultry), aircraft, electrical equipment, and high-tech products.

Russia’s overall trade surplus in 2008 was approximately $180 billion, a significant rise from a $129 billion surplus in 2007. However, the overvalued exchange rate and collapse in global demand in the last quarter of 2008 quickly turned the trade surplus into deficit. Given a readjustment of the exchange rate, the outlook for 2009 is better with a projected surplus of $80 billion, given slower growth in exports and severe contraction of imports. World prices continue to have a major effect on export performance, since commodities – particularly oil, natural gas, metals, and timber – comprise nearly 90% of Russian exports. Russian GDP growth and the surplus/deficit in the Russian Federation state budget are closely linked to world oil prices.

Russia is in the process of negotiating terms of accession to the World Trade Organization (WTO). The U.S. and Russia concluded a bilateral WTO accession agreement in late 2006, and negotiations continue on meeting WTO requirements for accession. Russia reports that it has yet to conclude a bilateral agreement with Georgia.

According to the 2008 U.S. Trade Representative’s National Trade Estimate, Russia continues to maintain a number of barriers with respect to imports, including tariffs and tariff-rate quotas; discriminatory and prohibitive charges and fees; and discriminatory licensing, registration, and certification regimes. Discussions continue within the context of Russia’s WTO accession to eliminate these measures or modify them to be consistent with internationally accepted trade policy practices. Non-tariff barriers are frequently used to restrict foreign access to the market and are also a significant topic in Russia’s WTO negotiations. In addition, large losses to U.S. audiovisual and other companies in Russia owing to poor enforcement of intellectual property rights in Russia are an ongoing irritant in U.S.-Russia trade relations. Russia continues to work to bring its technical regulations, including those related to product and food safety, into conformity with international standards.

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Date: 2015-12-13; view: 403; Нарушение авторских прав