Georgia

Russia Gains Access to the WTO

Georgia signs trade deal giving Russia access to the WTO. This has been an 18-year journey for Russia, who has tried to gain access to the WTO since 1993. Entry requires approval from each WTO member country and Russia has failed to get approval from Georgia because of the strained diplomatic relations between the two countries, which last a fought a War in 2008.

Georgia, a former Soviet Republic, and Russia have had a tense history. After the fall of the Soviet Union in 1992 there were several diplomatic struggles between the two. However, this elevated in 2008 during the South Ossetia War or Russo-Georgian War. This was an armed conflict between Georgia on one side and Russia, South Ossetia, and Abkhazia on the other. South Ossetia and Abkhazia are former Georgian Territories that Russia now recognizes as independent states. This subsequently ended all relations between the two. So the trade deal is seen as a great step for the former enemies. The trade talks have been negotiated by Switzerland and a deal will be signed next week finally allowing Russia into the World Trade Organization. Russia is the largest economy in the world that is not a member of the WTO.

Liberal

http://en.ria.ru/russia/20111104/168401801.html

http://www.thehindu.com/news/international/article2595372.ece

November 4, 2011 at 12:49 pm