How Russian and U.S. Standards Impact Foreign Trade

Abstract:Standardized requirements for product quality are inhibiting business partnerships between companies and government agencies in the United States and Russia. Russia's rapid transition from a planned economy to a free market system has no parallel in history, and it has encountered roadblocks to the sale of its natural resources, particularly its vast petroleum reserves, outside the country. On the other hand, Russia needs to import agricultural products, such as U.S. grain exports. A study conducted by the University of Arkansas found that the lack of interchangeability and mutual recognition of standard requirements developed by Russia and the U.S. has resulted in an insufficient level of standardization for trade. Russia is striving to align its legislation with international practice, especially those used by the World Trade Organization (WTO). Russia's membership in WTO could guarantee the development of economic relationships with foreign partners in a stable legal …

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