In Hanoi, US clears WTO path for Russia

The United States and Russia have signed a bilateral agreement that paves the way for Moscow to join the World Trade Organisation (WTO) after more than a decade of tough negotiations. Susan Schwab, the US Trade Representative, and German Gref, the Russian Economic Development Minister, signed the pact on the sidelines of the Asia-Pacific Economic Co-operation summit in Hanoi. The bilateral pact lifts an obstacle to Russia’s accession to the WTO. Russia, the only big economy outside the WTO, has been trying to join it since 1994 and the US was the last leading WTO member to give assent.

Georgia, already a WTO member, has concluded a bilateral treaty with Russia, which it needs to join the club, but has threatened to recall its signature because Moscow has imposed economic sanctions.