Russia'S Accession To The WTO, China'S High-End Clothing Brands Welcome Opportunities

In July 10th and 18th this year, the Russian State Duma (the lower house of parliament) and the Federal Council (upper house of parliament) successively passed the agreement of Russia's accession to the WTO.

On July 21st, Russian President Putin signed a federal bill to ratification of Russia's accession to WTO.

On July 23rd, Maxim Medvedkov, director of the Department of trade negotiations of the Russian Ministry of economic development, said publicly that Russia will become a member of the WTO in August 23rd.

According to the Ministry of commerce website's public information, Russia's trade threshold will gradually decrease after joining the WTO, which will contribute to the commodity circulation between China and Russia.

After accession to the WTO, the average level of Russian tariff protection will drop by 3.5 percentage points. The weighted average tax rate will fall to 7.6% in 2013, 6.9% in 2014, and 6% in 2015.

For Chinese enterprises, such changes can reduce their export costs and increase the export of superior products, such as clothing, textiles, footwear and household appliances.

In fact, at the moment when China's economy is weak, the news will undoubtedly ease the domestic situation slightly.

The textile industry has long been anxious.

Zhu Nanping, a research fellow who has worked in Russia for many years and graduated from the Northeast Asian Research Institute of the Heilongjiang Academy of Social Sciences, graduated from Moscow State University, believes that China's exports to Russia have not created the image of "made in China" with cheap goods, and have not produced a well-known brand and famous brand in the Russian clothing market.

Chinese clothing products are only a cheap "big road" for sale in the Russian arena. They are a helpless choice when people earn very low incomes during economic difficulties.

However, with the increasing income of Russian residents, their demand for high-end clothing brands has increased rapidly.

According to the survey, 10% to 15% of Russians have the ability to buy brand-name high-end clothing.

Zhejiang businessmen, who have visited the market in Russia, think that Russia is a very fashionable place, whether rich or poor, who are very particular about the pursuit of fashion.

Nowadays, Russian residents are less and less in demand for cheap and low-grade clothing. The only way out is to upgrade the quality and brand of Chinese clothing. This time, Russia's accession to the WTO will be a good opportunity for China's famous brands to penetrate into the Russian market.