09:41 GMT +317 March 2018
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    Russia to cut duties on cars, aircraft after WTO accession

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    HANOI, November 19 (RIA Novosti) - Russia will cut considerably import duties on foreign cars and aircraft, a senior official of the Russian economics ministry said Sunday.

    Russia and the United States signed November 19 a bilateral protocol on Russia's accession to the World Trade Organization at a summit of the Asia Pacific Economic Cooperation (APEC) organization in Hanoi. After the document was signed, Russian Economic Development and Trade Minister German Gref said that under an agreement reached with U.S. partners, the terms of the delivery of aircraft and cars to Russia would be considerably liberalized.

    Andrei Kushnerenko, deputy head of the ministry's department for trade negotiations, said Russia will cut import duties on cars from 25% to 15% and import duties on aircraft from 20% to 10% on average during seven years after joining the world trade club.

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