U.S. helping Russia to enter WTO

[News_Editor]

U.S. helping Russia to enter WTO

2011-03-10 01:50:41 GMT+7 (ICT)

MOSCOW (BNO NEWS) -- Russian President Dmitry Medvedev on Wednesday said he hopes Russia would finish the accession to the World Trade Organization (WTO) in 2011 with the help of the United States, RIA Novosti reported.

"I hope this process will be completed this year with the active support of the United States," Medvedev said during a meeting with U.S. Vice President Joe Biden who is on an official visit to Russia.

Medvedev said that the Russia-U.S. relationship has advanced in the last year, especially after the ratification of the New START nuclear arms accord, but added that economic relations trailed behind the political ties because of Russia's absence in WTO.

The U.S. vice president said the WTO accession for Russia is "the most important item on our agenda.â€

"The president wants me to make it clear we wish to continue the progress, this time on the economic front," Biden added.

Russia is the only major economy still outside the WTO. The European Union gave its backing to the country's entry bid in December after Russia agreed to trim timber export duties and rail freight tariffs. Georgia said on Wednesday that it will not allow Russia to join the WTO at the expense of its own interests.

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