WTO Officially Accepts Russian Membership

WTO Officially Accepts Russian Membership

www.reuters.com...
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The World Trade Organization has officially accepted Russia as a member, after 18 years of negotiations.

A meeting of ministers from the trade body's existing 153 member countries gave final approval Friday to membership for Russia, which in return has agreed to measures including a cap on tariffs, limits on subsidies and allowing foreign banks to operate more freely in Russia.

The WTO membership will become effective after Russia's parliament ratifies the agreement. That is expected early next year.

Russia is the last of the world's major economies to join the WTO

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This could open some new doors for Russia. Russia has seemed to be growing much stronger in recent years. Increased trade from the membership the WTO could give Russia many new avenues of trade. The trade increase could potentially give Russia an extra boost in the world economy.

While the membership with the WTO will not be effective until Russia's parliament ratifies the agreement early next year, this will give russia's economy a positive future outlook.
www.reuters.com...
blogs.voanews.com
(visit the link for the full news article)

What is surprising to me is that they weren't already. the ussr fell what, 25ish years ago and they are just now getting in?

Might get a nice upsurge of capitalism in Russia, which is good..will wash out the old hardline socialists there so they don't "get ideas".
I like the russian people. Good culture, good traditions, they just need a bit of success to stabilize themselves. This is good news

Just what we need, another heavily militarised country joining the World Terrorist Organisation!