ST. PETERSBURG, June 9 (RIA Novosti) - Russian and American business will set up a working group to support Moscow's bid to join the World Trade Organization (WTO) in 2007.
According to an agreement reached at a roundtable on the second day of an international economic forum in St. Petersburg, the group will include representatives of leading Russian and U.S. companies - LUKoil, Sukhoi, Severstal, Troika Dialog, and Chevron Corporation.
"The goal of the working group is to help our governments clear the remaining obstacles on the way to Russia's WTO membership," said Alexei Mordashov, the director general of the Russian steelmaker Severstal.
To join the WTO, Russia has to complete bilateral and multilateral negotiations with members of the 150-nation WTO, who choose to discuss the issue.
Mordashov and David J. O'Reilly, chairman and chief executive officer of Chevron Corporation, said Russia could join the WTO in 2007. "I have no doubt that Russia's accession to the WTO this year is highly probable," he said, adding that it was in everyone's strategic interests.
Russia earlier said it was planning to complete all bilateral and multilateral negotiations on WTO entry by mid-summer, but had failed to reach an agreement at bilateral talks with Georgia in May. Russian economics minister, German Gref, said Friday the talks had been postponed until the fall.
Georgia wants Russia to honor its 2004 commitment to close checkpoints on the border with Georgia's breakaway regions. The Kremlin said this was not a WTO-related issue. A new round of talks will be held in the summer.
Russia has yet to complete bilateral talks with Vietnam and Cambodia, and needs multilateral approval from its trade partners within the 150-member organization.
