Russias WTO membership issues settled.

By bne IntelliNews October 27, 2011
Russia is likely to become member of World Trade Organization and the end of this year or in the beginning of 2012, as the current round of the negotiations concerning Russias membership held in Geneva is believed to be a concluding one. Georgias demand to cancel the final meeting of the working group on November 10 was declined, head of Russias delegation Maxim Medvedkov announced. This means that already at the meeting in the middle of December Russias membership in WTO could be approved, he added. To remind, Georgia was previously torpedoing Russias attempts in joining WTO, while according to a report by the Wall Street Journal EU was in the last weeks applying pressure on Georgia on the matter, while there is a legal basis for voting for Russias membership by disregarding Georgias vote altogether. Last week EU announced that all issues on Russias WTO membership were agreed upon, leaving Georgia the only WTO member opposing it. To remind, in early October 2010 head of Russia's delegation for the WTO talks Maxim Medvedkov said that negotiations on the WTO accession with the EU were going to be completed in several weeks. Medvedkov previously estimated that Russia's membership in the WTO and all necessary procedures might be complete by 2012, while FinMin Alexei Kudrin estimated that Russia would join the WTO in 10 months. Completion on negotiations on WTO accession with USA and China was announced at the end of September 2010. Russia is the only major economy not being a part of the WTO, holding negotiations to join the organization since 1994.

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