Russia is likely to join the World Trade Organization (WTO) in the third quarter of 2008, a senior economic official said Wednesday.
"If everything proceeds as expected, Russia may become a WTO member in the third quarter of 2008. That means its responsibilities under the WTO come into force from January 1, 2009 and the first tariff reductions will occur from January 1, 2010," Deputy Director of the Economic Ministry's trade negotiations department Andrei Kushnirenko was quoted by the Interfax news agency as saying.
Kushnirenko said there were only two countries to negotiate with, Saudi Arabia and the United Arab Emirates, "the motifs of which are not totally clear from a purely economic standpoint, since the volume of trade with them is quite small."
The talks are to be wrapped up between January-February 2008.
"We believe that most issues will be finalized in January-February and that of agriculture -- in March-April of 2008," Kushnirenko said.
The technical procedures for WTO entry could then be launched, and Russia would become a fully-fledged WTO member in the third quarter of 2008 after 13 years of talks.
Source: Xinhua
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