China faces more fierce competition for exporting textile products to Russia

As early as October 2004, China and Russia signed an official document on Russia’s accession to the WTO. After China's accession to the WTO, there will be marked changes in the market access and investment environment in Russia, which will have a profound impact on Sino-Russian economic and trade cooperation, especially the economic and trade relations between the two regions.

People believe that Russia’s accession to the WTO will bring new opportunities as well as new competitions and challenges to Sino-Russian economic and trade cooperation. However, in general, the advantages outweigh the disadvantages. Russia’s import tariffs have always been relatively high, but after joining the WTO, Russia must reduce the tariff level to 5% according to the requirements of the WTO. This has provided an opportunity to increase the market share of China’s traditional advantageous commodities in the Russian market.

However, after the entry threshold for the Russian market has been reduced, competition in the low-end product market will become more intense. At present, with the exception of agricultural and sideline products, clothing, textiles, and footwear are still the main commodities exported to China by Russia. These products do not have a clear competitive advantage in the Russian market except for price advantage. Many commodities cannot be placed in formal shops, boutiques, specialty store counters, and can only be sold in the open market. After Russia's accession to the WTO, it will also open its markets to other WTO members. Chinese products must inevitably develop more intense competition.