Hungary can benefit from the Russian WTO membership

After eighteen years of negotiations, Russia joins the World Trade Organization (WTO) today.  After the join, Moscow has to undertake lower duty levels and increased protection of intellectual property. The former can further strengthen the domestic agro-food exports, while the latter can be beneficial to the Hungarian pharmaceutical companies that already have a significant weight on the Russian market.

On the basis of purchasing power parity, Russia – that has more than two thousand billion USD Gross Domestic Product – is the world's sixth largest economy and the world's ninth largest exporter. Russia joins to the World Trade Organization (WTO) as the 156th member. (Tar Gábor, Világgazdaság Online)