Russia signs WTO accession protocol with UAE

Moscow, Apr 20: Russia has signed a protocol on completing bilateral talks with the United Arab Emirates (UAE) on its accession to the World Trade Organisation (WTO). ''The agreement that has been signed testifies to the parties' intention to develop and strengthen bilateral cooperation in the economic sphere within a multilateral trade system, contribute to more intense mutual trade and closer friendly relations,'' RIA Novosti today quoted Russian Finance Minister Alexei Kudrin as saying after a signing ceremony.

The Russian President-elect Dmitry Medvedev said earlier this month that Russia was ready to join the WTO later this year and was quite capable of completing the process this year. So far, Russia has concluded bilateral talks with over 60 countries but still needs to complete discussions with the WTO members - Saudi Arabia and Georgia - that have trade disagreements with Russia.

UNI