Russia has finally joined the World Trade Organization on August 22, 2012.
Russia’s WTO accession has the following key consequences for the Russian aviation sector:
- further relaxation of aircraft leasing and certification regulations;
- reduction of customs duties and taxes applicable to foreign aircraft; and
- possibility of receiving state subsidies for the leasing of aircraft produced by the foreign manufacturers.
The WTO accession did not result in substantial immediate changes in the aviation sector, however, it can be seen as a positive step in the liberalization of trade with Russia in the aviation sector.