Russia relies on U.S. support in WTO accession - Medvedev
MOSCOW – Russian President Dmitry Medvedev on Wednesday expressed hope that Russia would finish the accession to the World Trade Organization (WTO) in 2011 with the help of the United States, RIA Novosti reported.
Russia is the only major economy still outside the WTO. The European Union gave its backing to the country's entry bid in December after Russia agreed to trim timber export duties and rail freight tariffs.
"I hope this process will be completed this year with the active support of the United States," Medvedev said during a meeting with U.S. Vice President Joe Biden who is on an official visit to Russia.
Medvedev said that Russian-U.S. economic relations trailed behind the political ties because of Russia's absence in WTO.
Biden said the United States backed the repeal of the controversial Jackson-Vanik Amendment, which was introduced in 1974 to restrict trade with the Soviet Union and other non-market economies until they allowed free emigration, particularly for Jews, and other religious minorities.
The U.S. vice president also said the WTO accession for Russia is "the most important item on our agenda."
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