But the world's largest country still has to complete talks with two more members of a 58-nation working party on its WTO accession - Australia and the U.S. - and negotiations with the latter have been particularly difficult.
"A mutually acceptable compromise was found during complicated talks, with Colombia displaying political will and a constructive approach," the Economic Development and Trade Ministry said.
"All disputable issues ... have been removed," the ministry said. "A compromise regarding supplies of traditional Colombian goods - flowers, coffee and exotic fruit - has been found."
The ministry said a firm foundation had been laid for successful interaction in the future, including outside WTO frameworks.
Russia's bilateral negotiations with the U.S. have stalled on a number of issues, including reform of Russia's banking sector and protection of intellectual property rights in the country.
President Vladimir Putin said in his annual state of the nation address May 10 that Russia's WTO accession talks should not be used as a bargaining chip for issues unrelated to the activity of the world's top trade body.
"We will hold [negotiations] only on conditions that fully take into account Russia's economic interests," Putin said. "It is obvious that our economy is more open than the economies of many member [countries] of this respected organization."
