Jan 29, Colombo: Sri Lanka is to benefit from supporting Russia to obtain the membership of the World Trade Organization (WTO) as Russia is to scrap a 5% import duty on loose tea within a year after it joins the WTO.

The scrap is due under an agreement Russia engaged with Sri Lanka to obtain the island nation's support for Russia's 13 year long WTO bid.

The import duty on packaged tea is also to be lowered to 12.5% from 20% within four years of Russia’s WTO entry, according to the agreement. Tea amounts 96% of Sri Lanka's exports to Russia. Sri Lanka is one of Russia's major black tea importers.