Russia is set to receive membership of the WTO. Russia is expected to make its official entry into the organization with the official documents being signed by WTO officials in a meeting of ministers on December 15-17.
The working group cleared Moscow for membership, a positive sign as for Moscow, as there has never been a situation where WTO has rejected the recommendations of the working group. The accession was prompted by the former Soviet power and Georgia reaching an agreement regarding custom border regulations with South Ossetia and Abkhazia. Dr. Alexander Libman, a Frankfurt-based professor of the international political economy, told reporters that Russia’s accession to the WTO would provide benefits to Russia and the world. Russia has waited 18 years to gain membership to the WTO.