Russia Granted Membership into the WTO ...

Today, on 16 December 2011, Russia cleared the final hurdle to become a WTO member. WTO Ministers adopted Russia’s WTO terms of entry at the 8th Ministerial Conference in Geneva. Russia will have to ratify the deal within the next 220 days and would become a fully-fledged WTO member 30 days after it notifies the ratification to the WTO.
12/16/2011

WTO Formally agree to Russia's accession

Geneva, approved by the World Trade Organization formally granted membership to Russia on Friday after 18 years of negotiations on the terms and conditions of accession to the World Trade Club.

Russia was the largest economy outside the organization has 153 members and it took its accession negotiations a longer period than any other country. In the face of Russia now six months of the ratification of the membership agreement and will become a WTO member 30 days after ratification.

The decision was taken on the second day of a ministerial meeting of the Organization of the three-day in Geneva. He said Russian President Dmitry Medvedev said in a statement "as a result of these talks, the long and complex good of Russia and our future." said Minister of Economy of Russia Elvira Nabiullina "For us, the end of these negotiations is not an end but a beginning." and later said Nabiullina in the news conference that she hopes to lead Russia's accession Trade Organization to stop the loss of about two billion dollars lost Moscow because of the discriminatory measures against its exports.

And she said "Russia is losing the day about two billion dollars due to discriminatory measures multiple against our exports. We hope that being canceled, and that is our companies for chemicals and transportation improvements in this area very soon. " said Pascal Lamy, Director General of the WTO in the word "these historic moments of the Russian Federation and the multilateral trading system after marathon talks lasted for 18 years."

"Russia's accession to the WTO will enhance the integration of Russia into the global economy and will bring greater certainty to those concerned business and business partners. " According to my mother, it is with Russia's accession, the organization now will be 97 percent of world trade.

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