SeaIntel: Russia in the WTO does not result in a new China

The Russian accession into the World Trade Organization (WTO) will not result in the country becoming a new China seen from the container industry’s point of view. The volume of consumer goods to be exported is simply not big enough, SeaIntel states.

Photo: Colourbox

If the container industry had hoped that Russia, following its accession into the WTO, would become a major exporter of containerized freight, the industry had better think again. SeaIntel has analysed the importance of the Russian accession into to WTO to the container industry and it will be limited.

A little more than ten years ago when China entered the WTO it led to an outsourcing boom in the production from Europe and North America to the Middle Kingdom. It also resulted in a considerable increase in the volume of containerized freight to and from the country and as Russia is the largest economy entering the WTO since China, some commentators have declared that a similar situation could occur.

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