Russia and the United States have agreed on terms for Russia's accession to the World Trade Organization (WTO), the Economic Development and Trade Ministry said in a statement on Friday.

The Russian and US government delegations have agreed on fundamental terms of a bilateral agreement on access to the goods market in talks on Russia's accession to the WTO, the Itar-Tass news agency quoted the ministry as saying.

The delegations are holding consultations to sign a bilateral agreement on the access to markets in the second half of November.

Russia has conducted 13 years of tortuous negotiations with Washington over its access to the WTO. The main disputes focus on Moscow's unwillingness to grant access to US meat products and Washington's concerns about Internet and video piracy in Russia.

Agreement with the United States is key to the 149-member WTO acceptance of Russia, which, however, still needs endorsement from Georgia and Moldova, and the US Congress should lift current restrictions from Russia to make the new trade regime work.

Official: US hopes to sign Russia WTO deal next week in Hanoi

The United States and Russia have reached an agreement in principle on Russia's entry into the World Trade Organization (WTO) and hope to sign the agreement next week in Hanoi, the US Trade Representative's office said on Friday.

"We have an agreement in principle and are finalizing the details. We are also holding consultations with the Congress and our cleared advisers. This agreement will mark an important step in Russia attaining membership in the WTO," said US Trade Representative Susan Schwab said in a statement.

"It is a clear indication of Russia's efforts to participate fully in and benefit from the rules-based global trading system. We came close to completing our work in July, but needed more time to conclude a strong commercial agreement that will be of benefit to both our countries," she said.

She added both US and Russia hope to sign the agreement next week in Hanoi on the margins of the APEC meeting.

Russia has conducted 13 years of tortuous negotiations with Washington over its access to the WTO. The main disputes focus on Moscow's unwillingness to grant access to US meat products and Washington's concerns about Internet and video piracy in Russia.

Agreement with the United States is key to the 149-member WTO acceptance of Russia, which, however, still needs endorsement from Georgia and Moldova.

(Xinhua News Agency November 11, 2006)
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