(Updates following emergence of WTO details)
Nov 10 (Reuters) - The World Trade Organization finalised terms for Russia's membership on Thursday, enabling it to gain final approval from WTO trade ministers at a meeting in December and to join the body early next year.
To gain admittance, Russia had to bring its own laws into line with WTO rules and satisfy the 153 existing members that it is committed to enforcing WTO standards.
Following are selected extracts from its accession agreement, spelling out specific commitments by Russia.
Russia's import tariff ceiling will average 7.8 percent, compared with an actual 2011 average of 10.
The average ceiling for agricultural import tariffs will be 10.8 percent, lower than the actual average of 13.2.
The average ceiling for manufactured goods will be 7.3 percent, compared to an average of 9.5 now.
Import tariffs on information technology products, currently 5.4 percent, will be zero. Cotton imports will also have a zero tariff.
One third of tariff ceilings will be in place from the date of accession. A quarter will come into force after 3 years. Those for cars, helicopters and civil aircraft will come in after 7 years and for poultry after 8 years.
Average duties after full implementation of tariff reductions will be as follows:
IMPORT TARIFF CEILING CURRENT TARIFF
Dairy products 14.9 pct 19.8 pct
Cereals 10.0 15.1
Oilseeds, fats, oils 7.1 9.0
Chemicals 5.2 6.5
Automobiles 12.0 15.5
Electrical machinery 6.2 8.4
Wood and paper 8.0 13.4
Sugar $223/t $243/t
Russia will scrap the foreign equity limit, currently 49 pct, in telecoms four years after accession.
Foreign insurers will be able to open Russian branches 9 years after Russia accedes.
Foreign banks will be allowed to establish subsidiaries. There would be no cap on foreign equity in individual banking institutions, but the overall foreign participation in the banking system will be limited to 50 percent.
Russia will allow 100 pct foreign-owned companies to engage in wholesale, retail and franchise sectors upon its accession to the WTO.
Importers of alcohol, pharmaceuticals and products with encryption technology will not need import licences.
Russia plans to join the WTO's voluntary Agreement on Government Procurement and will initiate negotiations for membership within four years of joining the WTO.
Russia commits to zero export subsidies on agricultural products. It will also scrap value-added tax exemptions for certain domestic agricultural products.
Total trade-distorting agricultural subsidies will not exceed $9 billion in 2012 and will be reduced to $4.4 billion by 2018.
Russia will limit subsidies for specific agricultural products in relation to overall agricultural subsidies in each year until the end of 2017. In the draft text, total product-specific support is limited to 30 percent of general subsidies, but that figure is in brackets, indicating it is provisional.
Russia will eliminate all industrial subsidies, or make sure they are not dependent on exportation or favour local goods over imports.
Russia will amend rules on aircraft leasing to ensure that foreign-made aircraft can qualify for the same benefits and are as attractive to Russian airlines as Russian-made planes.
But Russia does not plan to join the WTO Agreement on Trade in Civil Aircraft.
Russia will privatise 100 pct of United Grain Company by 2012.
Russia will privatise 50 pct plus one share of Rosagroleasing (aka Rosagrolizing) no sooner than 2013.
Russia will report to WTO annually on privatisation progress.
Russia will cut maximum customs clearance fee to 30,000 roubles from current 100,000 roubles and simplify procedures.
Russia will eliminate preferential tariffs for carmakers making large investments in Russian-based production by July 1, 2018.
PLANT AND ANIMAL HEALTH
Russia plans to put a new law on plant quarantine into force on Jan. 1, 2012.
Russia plans to pass a new veterinary law in 2012.
Russia, in its customs union with Belarus and Kazakhstan, will work out a common list of quarantine pests and phytosanitary requirements to enter into force on Jan. 1, 2013.
Russia intends to develop market-based pricing for the domestic gas market.
Russia aims to ensure gas producers and distributors can profitably supply industrial customers, but will keep regulating prices for households and non-commercial users.
Railway transportation costs for Russian domestic produce and imports and exports will be equal by July 1, 2013.
Russia commits to pursue criminal charges against illegal optical disc production at government-controlled sites.
Russia will lower the threshold for taking action against trademark counterfeiting and copyright piracy.
Russia will eliminate non-contractual administration of rights by the beginning of 2013.
Russia will hold organisations engaged in collective management of rights accountable to ensure that right holders receive remuneration due to them.
Russia will lift its reservation to the Berne Convention for the Protection of Literary and Artistic Works before it joins the WTO.
Russia will cut export duties on ferrous waste and scrap from (the lower of) 15 percent or 15 euros per tonne in the year of accession to 5 percent or 5 euros per tonne over 5 years.
Russia will cut export duties on copper cathode from 10 percent in the year of accession to zero within four years. (Reporting by Tom Miles; Editing by Robert Woodward)