Russia, EU could conclude WTO accession talks by year end: official

ST. PETERSBURG, Russia, June 4 (Xinhua) -- Moscow and the European Union (EU) could wrap up WTO entry negotiations by the end of the year, the Russian economic development minister said on Thursday.

"We hope to complete the negotiations by the end of the year," Elvira Nabiullina said after a meeting with EU Trade Commissioner Catherine Ashton on the sidelines of the St. Petersburg Economic Forum.

Nabiullina said the next round of talks on Russia's accession to the World Trade Organization would be held on June 15-16 and she would have another meeting with Ashton in late June.

Russia's chief negotiator on WTO accession talks, Maxim Medvedkov, said it would take at least half a year after the talks ended for Russia to formally join the organization.

Russia, which has been seeking WTO membership for more than 15 years, is the largest economy that remains outside the global trade watchdog.

Moscow has so far completed talks with more than 60 countries, but still needs to synchronize positions on issues such as agriculture, export duties for timber, and regulation of some state-controlled companies.