State Duma Approves Amendments to Bill on Foreign Trade

The State Duma approved amendments to the bill on state regulations of foreign trade on the first reading. The amendments were introduced by the government due to the intense development of Russian foreign trade, its integration into the world economy and a need to adapt Russia's foreign trade legislation to the up-to-date economic and political reality as well as to the WTO regulations.

The amended bill covers three guidelines of foreign trade: trading of goods, services and the international exchange of proprietary articles. The bill's main principles, terms and definitions were formulated to best meet the corresponding WTO regulations.