WTO approves Russia's membership after marathon

By REUTERS
December 16, 2011 19:27

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

GENEVA/MOSCOW - Russia was admitted into the World Trade Organization on Friday after 18 years of negotiation, finally binding it into the global economy two decades after the Soviet Union collapsed.

Russia's $1.9 trillion economy was the largest outside the WTO, and accession will help reduce its dependence on energy exports that left it cruelly exposed to the oil price collapse of 2008.

Accession by Russia, with the second-largest nuclear arsenal after that of the United States, into a rules-based club should also help limit dangers of a repeat of regional conflicts like its 2008 war with Georgia. Trade conflicts have repeatedly exacerbated tensions between Moscow and Tbilisi.

"This result of long and complex talks is good both for Russia and for our future partners," President Dmitry Medvedev said in a message to a WTO ministerial meeting in Geneva that formally approved Russia's membership.

Related Content

Breaking news
August 21, 2018
Report: Iran unveils new fighter jet

By REUTERS