ST.PETERSBURG, 24 July (RAPSI) - Russia's Constitutional Court has rejected an official inquiry submitted by Duma lawmakers questioning the constitutionality of Russia's accession to the World Trade Organisation.
The lawmakers that submitted the inquiry say that State Duma (the lower house of the Russian parliament) did not receive a copy of the Marrakesh Agreement with an official translation, and that the draft bill on the accession was not approved by the federal subjects of Russia. The MPs also claimed that the draft law presented to them had an incorrect economic basis.
The Constitutional Court refused the probe, stating that overturning a presently active international treaty under the pretense of domestic law is reserved for extreme cases with proven violations of the Constitution.
The protocol on Russia's accession to the Marrakech Agreement establishing the WTO took effect on August 22, 2012. The protocol was signed in Geneva on December 16, 2011. Ministers of the WTO member states approved Russia's accession to the organization after 18 years of negotiations.
Russia will undertake all obligations under the agreement as a WTO member state. The transitional period for liberalizing market access is generally 2-3 years, or 5-7 years for sensitive goods.
The automobile industry, agriculture, farm vehicle manufacture, and the manufacture of light-weight goods are among those sensitive areas which may be afforded additional time due to specific economic and financial difficulties.
According to the World Trade Bank, Russia's accession to the WTO will bring about a GDP increase of about 3.3% per year, thus leading to an expected 11% GDP increase over the course of the next ten years (about $162 billion).