Russia signs WTO accession protocol with UAE

ABU-DHABI, April 20 (RIA Novosti) - Russia has signed a protocol on completing bilateral talks with the United Arab Emirates on its accession to the World Trade Organization (WTO), Russian Finance Minister Alexei Kudrin said on Sunday.

Russia has been seeking membership of the WTO since 1993. So far, Russia has concluded bilateral talks with over 60 states but still needs to complete discussions with the WTO members - Saudi Arabia and Georgia - that have trade disagreements with the country.

"The agreement that has been signed testifies to the parties' intention to develop and strengthen bilateral cooperation in the economic sphere within a multilateral trade system, contribute to more intense mutual trade and closer friendly relations," Kudrin said after a signing ceremony.

The Russian president-elect, Dmitry Medvedev, said in early April that Russia was ready to enter the world trade club later in 2008.

"We are really ready to enter the WTO, and are quite capable of completing the process later this year," Medvedev said.