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Russia Becomes A Member Of The Wto: Is There Any Deal Over Syria? - Foreign Affairs - Nairaland

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Russia Becomes A Member Of The Wto: Is There Any Deal Over Syria? by panafrican(m): 5:33pm On Dec 16, 2011
  Quid pro quo   ( something for something) !!!
one wonders whether Russian leaders  sold the head of Mr. Assad to western countries in exchange of Russia 's membership at the world trade organization. Let's hope  this  is not the case!


Al Jazeera
WTO admits Russia as a member 

World Trade Organization formally approves the state's membership after an 18-year quest to join.
16 Dec 2011 16:02
 


The World Trade Organization has given its second and final approval for Russia's membership in the trade body after a record 18-year quest to join.

The 153-nation global trade body approved by consensus Russia's application for membership on Friday, giving a boost to the ailing economy of its biggest trading partner, the European Union.

"The ministerial conference so agrees," said Olusegun Aganga, Nigeria's Trade Minister, who is chair of the eighth WTO ministerial conference. The decision was taken mid-way during the three-day meeting in Geneva.

The Russian parliament will have up to June 15 next year to ratify the accord and bring it into force.

The deal is expected to quickly increase EU exports by some 4bn euros ($5.45bn) a year.

Under the deal, Russians can buy European-made goods at far lower prices and sell its oil and gas more efficiently.

Moscow's lead negotiator Maxim Medvedkov said earlier he expected the deal to be ratified "early next year".

Russian President Dmitry Medvedev said in a statement: "This result of long and complex talks is good both for Russia and for our future partners."

'Historic moment'

"For us, the end of these negotiations is not the finish but the start," Elvira Nabiullina, Russia's economy minister, told the talks.

In a speech, Pascal Lamy, the WTO director-general said: "This is clearly a historic moment for the Russian Federation and the rule-based multilateral system after an 18-year marathon."

"The accession of Russia to the WTO will cement the integration of the Russian Federation into the world economy and will bring greater certainty to business operators and trading partners," he said.

Until now, Russia has been the only member of the Group of 20 leading economies still outside the WTO.

Russia applied to join the trade body in 1993 but talks dragged on and its brief war with Georgia in 2008 further delayed its application.

No other country has had to bargain so long before being granted entry. China was the previous record holder with 15 years of negotiations for membership.
http://www.aljazeera.com/news/europe/2011/12/2011121615223811749.html
Re: Russia Becomes A Member Of The Wto: Is There Any Deal Over Syria? by Goloss: 10:12pm On Dec 16, 2011

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