Russia set to sign WTO accession protocol with Cambodia soon

MOSCOW, July 17 (RIA Novosti) - Russia intends to sign documents on its accession to the World Trade Organization with Cambodia in the near future, a government official said Tuesday.

Russia signed a protocol on the conclusion of bilateral talks for its entry into the global trade body with Guatemala on June 26, with Vietnam on July 6, and now has to complete negotiations with Cambodia, and reach agreements with Georgia and Saudi Arabia.

"We have agreed with Cambodia and we'll sign all the documents in coming weeks," said Andrei Kushnirenko, director of the department for trade negotiations at the Russian Ministry for Economic Development and Trade.

Russia, the largest economy outside the 150-member bloc, expects membership to boost market reforms and ensure better transparency, while providing a secure business environment for trade and investment. Membership will also help the country diversify its economy, participate in projects to develop future common trade rules, and safeguard its interests.

Kushnirenko also said a new round of Russia's WTO accession talks with Saudi Arabia would take place in Geneva on July 23.