The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Russia, USA sign protocol on WTO accession.

Russia, USA sign protocol on WTO accession. EconMin German Gref and US Trade Representative Susan Schwab signed a bilateral agreement on Russia ’s accession to the WTO during the Asia-Pacific Economic Cooperation summit held in Hanoi . US president George Bush and Russian president Vladimir Putin were also present. Gref called the event a historic step, which marks Russia ’s return to the market track and equal competition on the world market. The negotiations lasted for 12 years. The bilateral deal needs now to be ratified by legislature branches in both countries. Besides, Russia needs to reach agreement with Moldova and Georgia . The latter’s representative informed that Georgia will not give its approval for Russia accession unless Russia fulfils trade agreements with Georgia and legalizes customs border points in Abkhazian and South Ossetian sectors. Particularly, Georgia wants cooperative control over those points from both, Russian and Georgian sides of the border. The two brake away regions operate with a strong diplomatic and financial support from Russia . To enjoy full access to WTO economies Russia needs to be granted Permanent Normal Trade Relations (PNTR) status. US business groups are urging congress to move more rapidly to grant Russia the status.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree