Russia, the only G20 member and
the biggest economy outside the World Trade Organization (WTO), finally joined
the trade bloc on Friday after 18 years of negotiations.
Local analysts believed Russia's
accession to the WTO would boost the country's economic and trade ties with its
biggest trade partner — China, as the two countries would trade with each
other under the same rules of the WTO.
Trade between
Russia and China, has recovered from the global financial
crisis and rebounded to a pre-crisis level in 2011. Bilateral trade volume in
the first half of this year stood at 35.9 billion U.S. dollars, a 39.6-percent
hike compared with last year.
Leave a Reply