On December 16, Russia was officially approved to become a new member of the WTO. After joining the WTO, Russia will gradually integrate into the global economy and the trade environment will be more stable, which will surely bring a new round of prosperity to China-Russia trade. In particular, it is worth mentioning that the fast-growing Russian rubber and plastics machinery market has attracted much attention internationally. The entry into the WTO era of the Russian market will bring new export opportunities to China's rubber and plastic machinery companies.
According to the WTO accession agreement, the overall Russian tariff level will be reduced from 10% in 2011 to 7.8%, of which the overall tariff level of agricultural products will be reduced from the current 13.2% to 10.8%, and the overall tariff level of industrial finished goods will be adjusted from 9.5% to 7.3%. Since the date of accession to the WTO, Russia is obliged to implement the new tariff system for more than 1/3 of the import and export tax items, and another 1/4 of the tax items will be adjusted within 3 years. Analysts pointed out that accession to the WTO not only helps Russia's further integration into the process of world economic integration, and contributes to the healthy and stable development of the Russian economy, but also creates new opportunities for the promotion of international trade development and the establishment of a multilateral trade mechanism.
At present, the main importers of the Russian rubber and plastic machinery market are Germany, Italy and Ukraine, and China ranks fifth. With the reduction of tariffs, as a neighboring country to Russia, the Chinese rubber and plastics machinery industry will benefit greatly from the perspective of geographic convenience and cost-effectiveness. In addition to the reduction of tariffs, Russia’s accession to the WTO will also bring long-term benefits to China's rubber and plastics machinery industry. This is mainly reflected in the following two aspects: First, the investment environment in Russia is further improved, and it is expected that more foreign automobile and tire manufacturers will come to build. Plants, thus driving the demand for rubber and plastic machinery; Second, under the constraints of WTO rules, the Russian customs management system will be more standardized and legal, and trade disputes are expected to be resolved more effectively. This will undoubtedly promote bilateral trade cooperation between Russia and China. Rubber and plastic machinery manufacturers can more easily export their own products.
In recent years, the Russian rubber and plastics machinery market has developed rapidly and the scale has reached 300 million to 400 million U.S. dollars. The potential for future development is huge. At present, Russia has more than 2,000 companies involved in rubber and plastic processing, 45% of rubber and plastic machinery used in 10 to 20 years, 25% more than 20 years, equipment needs to be updated. In addition, there is great room for growth in the demand for plastic products, which will certainly increase the demand for rubber and plastics machinery market. With the rapid development of the Russian food industry, the demand for plastic packaging materials has increased correspondingly; the demand for plastic products in building materials, sporting goods, stationery and the automotive industry has continued to grow.
In addition, China's tire exports to Russia will also usher in a new opportunity. Russia is a country with large demand for tires. In particular, Russia’s demand for tires has increased significantly during the process of revitalizing the economy. At the same time, Chinese tire exports have a strong price advantage and are more suitable for the current Russian market. Since 2005, various Chinese automobiles have entered the Russian market in batches, which has also driven the attention of the Chinese tire industry to the Russian market.
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