Russia now can step into the final stage of entry talks with WTO.s 149 members to bring itself into the club after 13 years of tough negotiations. WTO membership could now be in reach within months.
The bilateral agreement removes Russian barriers to U.S. beef, pork, and poultry exports and requires Moscow to cut tariffs on a long list of agricultural and manufactured goods. The deal also included that Russia has to open up its services sector, counting banking and insurance.
Joining WTO will be good news for the Russian business climate, since it will commit the politicians to bring its copyright laws and enforcement system into line with WTO intellectual property rights rules. Accession will stimulate service industries and encourage reforms by Russian companies, who will enjoy the improved export possibilities.
