The World Trade Organisation has formally approved Russia’s membership after 18 years of haggling over terms and conditions for joining.
It was by far the biggest economy outside the 153-member organisation, which sets the rules governing global commerce.
Russia’s Economy Minister Elvira Nabiullina said she hopes WTO membership will end discriminatory measures against exports have been costing it about 1.5 billion euros a year.
“This result of long and complex talks is good both for Russia and for our future partners,” President Dmitry Medvedev said in a message to a WTO ministerial meeting in Geneva that formally approved Russia’s membership.
Moscow plans to ratify its membership and join the global trading club early next year.
With Russia as a member the WTO will account for 97 percent of world t