MOSCOW, Jul 28 (PRIME) — Russian may complete talks to join the World Trade Organization (WTO) by December 1416 when the organizations general council plans to hold a meeting, Maxim Medvedkov, head of the Economic Development Ministrys trade negotiations department, said Thursday, RIA Novosti reported.
Medvedkov cited a plan provided by Stefan Johannesson, chairman of the WTOs working group on Russias membership bid.
As the talks are completed, the group is to submit the necessary documents to the council, which is to approve Russias accession, Medvedkov said. Russian authorities are then expected to ratify the documents, which could take three to five months, he said. He added, however, that in this particular case, it could take only one to two months.
Russia is the only major economy still not included in the WTO and has been in negotiations to join the organization since 1994. The country is expected to join the WTO later this year, according to earlier statements by Russian officials.