Russia and the United States failed to seal an agreement on Saturday on Russia's entry to the World Trade Organization (WTO) but talks are set to continue.

U.S. President George W. Bush, speaking at a joint press conference with his Russian counterpart Vladimir Putin after their talks, said his country supports Russia's entry to the WTO but more work needs to be done.

Bush dismissed media reports that a deal is reached and said instead: "A deal is almost reached."

"The intention to have a deal is there," and both sides agreed to continue to talk in good faith, Bush said.

Bush is in St. Petersburg for the Group of Eight summit that will open later in the day.

Source: Xinhua