AlHijjah 6, 1432, Nov 2, 2011, SPA -- Russia has reached agreement with Georgia on a bilateral trade deal paving the way for Russia's entry to the World Trade Organization after 18 years of talks, Reuters quoted Russia's top negotiator as saying on Wednesday. Agreement with Georgia was the last step before Russia's accession to the 153-member trade bloc, which would cement Russia's integration into the world economy two decades after the fall of the Soviet Union. "We are happy that Georgia supported the draft agreement and that finally an agreement has been reached," Russia's WTO accession negotiator Maxim Medvedkov told Reuters. Russia's entry will further open up its economy, worth about $1.9 trillion, or 2.8 percent of the global economy, and supporters say WTO rules could help increase the flow of investment into the world's biggest energy producer. Haggling between Russia and Georgia, a former Soviet republic which Russia humiliated in a 2008 war, over how to administer trade has held up Russia's entry, which is supported by the United States and the European Union. Swiss mediators have been hammering out the final details of a deal over recent days in both Georgia and Russia. Georgia said it had not yet been informed of Russia's decision. "They have not given a final yes or no yet," Sergi Kapanadze, deputy foreign minister, said by telephone. -- SPA
