Russia Agrees Reaches Agreement With Georgia On WTO Entry

Posted November 2nd, 2011 at 4:45 pm (UTC-5)
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Russia has reached an agreement with Georgia on trade-related issues, paving the way for Russia's entry into the World Trade Organization.

A senior Russian trade negotiator, Maxim Medvedkov, said Tuesday in Geneva that Moscow has agreed to third-party customs checks on all trade and cargo between Russia and the breakaway provinces of Abkhazia and South Ossetia.

The two Russian-backed regions have declared independence from Tbilisi, causing a brief war between Russia and Georgia in 2008.

Georgia accepted the Swiss proposal on third-party custom inspections last week.

Following the agreements, Russia could become a member of the World Trade Organization by the end of this year, after 18 years of waiting.

Georgia has been the only obstacle to Russia's membership in the 153-nation trade bloc.

Under WTO rules, any one of the 153 members can block a new country by vetoing it.

Negotiations between Russia and Georgia had been stalled because of Tbilisi's insistence that Russia provide access to trade information in the two breakaway regions.