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Duma ratifies Russia's WTO accession protocol

Russia signed a protocol on accession to the world trade club on December 16, 2011 after 18 years of talks.

The State Duma, the lower house of Russian parliament, voted on Tuesday to ratify a protocol on Russia’s accession to the World Trade Organization (WTO).

The protocol was supported by MPs of the ruling United Russia party, while the opposition voted against the document.

Russia signed a protocol on accession to the world trade club on December 16, 2011 after 18 years of talks and had to complete the ratification process by July 23 to avoid the need to renegotiate the entire agreement.

Wednesday July 10, 2012/ RIA Novosti/ Russia.
http://en.ria.ru/

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EU welcomes Russia's WTO accession after 18 years of negotiations

This accession is particularly important for the EU, as the EU is Russia's first trading partner and Russia is the EU's third trading partner. For the first time both entities will be bound by multilateral rules and obligations for their mutual trade.

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