In brief, News

WTO signed Russia up as member

by | Dec 17, 2011

TBILISI, DFWatch – After an eighteen year long struggle, Russia on Friday finally signed the document which formally makes it a member of the World Trade Organization.

The ceremony took place in Geneva with Elvira Nabiullina, Russia’s Minister of Economic Development, sitting down with Pascal Lamy, head of WTO, to sign the membership agreement.

For the last few years, the Georgia has been using its veto powers to block a Russian WTO membership after the Russia-Georgia war in 2008.

In November an agreement was achieved between the two countries after mediation by Switzerland. As a result of the agreement, an international monitoring force will be established on the borders between Russia and Georgia to check goods moving between the two countries.

After signing the document, it must be ratified by Russia. Thirty days after ratfifying the agreement, Russia will become full member of WTO.

 



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