Russia and the United States on Sunday signed a deal on bilateral terms for Moscow’s entry into the World Trade Organisation (WTO), removing the last major obstacle in Russia’s 13-year-old bid to join the WTO.
The agreement was signed by Russia’s Economy Minister German Gref and US trade representative Susan Schwab on the fringes of Asia Pacific Economic Cooperation (Apec) summit in the Vietnamese capital.
The signing was timed for a meeting between Russian President Vladimir Putin and US President George Bush, who are both taking part in the Apec summit.
US officials have said the pact removed long-standing Russian obstacles to US beef, pork and poultry exports and required Moscow to cut tariffs on a long list of agricultural and manufactured goods.
Russia has also agreed to open up its services sector, including the politically sensitive area of banking and insurance, and to take stronger action to stop piracy and counterfeiting of foreign goods before it joins the WTO.
Gref told reporters on Saturday Russia was equally happy with the deal. — Reuters