Russia remains the only major world economy that is not a member of the World Trade Organization (WTO). In large part, this is because Russia's major export, oil, is already tariff free around the world, so Russia hasn't felt the pressure to join the WTO in order to obtain market access for its companies. However, foreign investors are increasingly putting pressure on Moscow to enter the global group. Entry is supposed to happen in 2011, but it won't be easy. Russia still has steep tariffs, high levels of corruption, and customs controversies over goods valuations that will cause Russia many more transition problems than China, which entered the WTO in 2000.
Russia's WTO Membership Faces Rocky Road - WSJ.com
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