Russia, U.S. agree on terms for Russia's accession to WTO: official

Russia and the United States have agreed on terms for Russia's accession to the World Trade Organization (WTO), the Economic Development and Trade Ministry said in a statement on Friday.

The Russian and U.S. government delegations have agreed on fundamental terms of a bilateral agreement on access to the goods market in talks on Russia's accession to the WTO, the Itar-Tass news agency quoted the ministry as saying.

The delegations are holding consultations to sign the agreement on the access to markets in the second half of November.

The agreement lays down fair and predictable terms of trade in commodities and services vital for both nations, including agriculture, industrial and agricultural machine building, information technologies, aircraft building, financial, telecom, distribution, audiovisual and other services.

Clauses, which stipulate efficient protection of intellectual property rights, trade in high-tech goods, and veterinarian and phytosanitary control complying with the rules of the WTO and the World Organization for Animal Health (OIE), will be an inseparable part of the accord.

As the agreement is signed, Russia and the United States will keep tackling remaining issues multinationally, at the Geneva- based working group for the Russian accession to the WTO.

Russia has conducted 13 years of tortuous negotiations with Washington over its access to the WTO. The main disputes focus on Moscow's unwillingness to grant access to U.S. meat products and Washington's concerns about Internet and video piracy in Russia.

Agreement with the United States is key to the 149-member WTO acceptance of Russia, which, however, still needs endorsement from Georgia and Moldova, and the U.S. Congress should lift current restrictions from Russia to make the new trade regime work.

Source: Xinhua