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Friday, 11 November 2011

NZ HERALD - Russia nears WTO membership after 18-year journey, Nov 11, 2011

Pascal Lamy, left, Director-General of the WTO hands over a t-shirt to Maxim Medvedkov, the Chief WTO negotiator for the Russian Federation. Photo / AP

"Russia cleared a major hurdle toward opening up its huge oil-driven economy overnight, with negotiators agreeing to final terms that would allow it to join the World Trade Organisation after an 18-year effort.
The deal is expected to quickly inject 4 billion euros ($US5.45 billion) a year into the ailing European economy by boosting European Union exports.
The 27-nation bloc is Russia's biggest trading partner for its agriculture, fuels, mining and manufacturing."

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