Russia to complete bilateral WTO talks soon: Official

Moscow, June 11 (UNI) Russia hopes to complete bilateral negotiations on its accession to the World Trade Organisation (WTO) with Guatemala, Vietnam and Cambodia this summer, Russian Deputy Economics Minister Maxim Medvedkov has said.

Russia would sign an agreement with Guatemala in the next two weeks and with Cambodia in early July, Mr Medvedkov, Russia's chief negotiator at accession talks with WTO, said at the sidelines of the St Petersburg International Economic Forum yesterday.

Talks with Cambodia were in progress, he added.

''The issue will be closed before the end of the summer,'' Mr Medvedkov said.

After completing talks with the two Southeast Asian countries and Guatemala, Russia would have to hold bilateral talks with Georgia and Saudi Arabia, he said. The latter has not officially started the negotiating process.

Russia had to re-enter WTO talks with Georgia in May after the former Soviet republic withdrew its signature from an earlier agreement with Russia a few months ago amid tensions in bilateral relations.

Georgia wants Russia to honour its 2004 commitment to close checkpoints on the border with Georgia's breakaway regions. The Kremlin says this is not a WTO-related issue.

Mr Medvedkov also said Georgia had handed over a list of other WTO-related demands to Russia, pointing out Russian experts will prepare the answers within the next two weeks.

Speaking at the Forum yesterday, WTO Secretary General Pascal Lamy said the WTO could not be considered a multilateral organisation without Russia.

Russia needed the WTO membership to improve confidence in its economy, he added.

European Commissioner for Trade Peter Mandelson, pledged more assistance to Russia and other ex-Soviet states in their WTO bids.

Russia is the only major economy outside the WTO. It has already completed bilateral WTO talks both with the US and the EU.

Multilateral talks are underway now on agricultural subsidy, export duties, veterinary and phytosanitary measures and piracy.

UNI