Russia may become a member of the World Trade Organization (WTO) in early March 2007, the Interfax news agency quoted Russian chief negotiator as saying on Monday.

It is "technically possible to finalize negotiations" on Russian accession to the organization by the end of 2006, Maxim Medvedkov said.

The negotiators have recently settled the problem of financial concessions, Medvedkov said, adding the sides' positions "are not very far apart from one another."

According to Medvedkov, there will be a new round of negotiations in May.

The remaining questions concern agriculture, customs charges on certain types of foodstuffs, rail charges, investments in the automobile industry and a further 10 to 15 problems.

Medvedkov denied there was delay in the accession, saying "from the very beginning we have had no deadline. It is a question of securing advantageous conditions for Russia and there aren't many conditions left to coordinate."

Speaker of the lower house of parliament Boris Gryzlov said on Saturday that Russia should not agree to join WTO on disadvantageous terms.

The United States remains the only country with which Russia has yet to complete talks in its bid to join the world trade body. One of the sticking points in the talks is a U.S. demand that foreign banks be allowed to open directly owned branches in Russia.

Source: Xinhua