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Russia Joins WTO In a Year

Russia may become a member of the World Trade Organization

Russia Joins WTO In a Year

Russia may become a member of the World Trade Organization in early March 2007, the Interfax news agency quoted Russian chief negotiator as saying on Monday.

It is "technically possible to finalize negotiations" on Russian accession to the organization by the end of 2006, Maxim Medvedkov said.

The negotiators have recently settled the problem of financial concessions, Medvedkov said, adding the sides' positions "are not very far apart from one another."

The remaining questions concern agriculture, customs charges on certain types of food stuffs, rail charges, investments in the automobile industry and a further 10 to 15 problems.

The United States remains the only country with which Russia has yet to complete talks in its bid to join the world trade body. One of the sticking points in the talks is a U.S. demand that foreign banks be allowed to open directly owned branches in Russia.

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