Russia set to conclude WTO talks with Vietnam, Cambodia in June

ST. PETERSBURG, May 26 (RIA Novosti) - Russia hopes to conclude bilateral talks with Vietnam and Cambodia on its accession to the World Trade Organization (WTO) by the end of June, Russia's economics minister said Saturday.

Moscow has signed bilateral protocols with all but two WTO members, and has yet to complete multilateral talks with its trade partners within the 150-member organization.

"I believe we will be ready to sign [an agreement with Vietnam] in June," Economic Development and Trade Minister German Gref said. "Also last details [of an agreement] are being coordinated with Cambodia."

Jose Manuel Barroso, the president of the European Commission, said following the Russia-EU summit in the Volga River city of Samara May 18 that the EU fully supports the prospect of Russia joining the global trade organization.

Earlier Andrei Kushnirenko, a deputy head of the trade talks department with the Russian Economic Development and Trade Ministry, said after joining the WTO, Russia will gain the right to defend its interests and participate in all talks on trade regulations planned for the next decade, although the country will start gradual transition to an open market economy only after a year of its accession.