Russia signs key trade deal with U.S.

[OhioChick]

By ALEX NICHOLSON, AP Business Writer
Sun Nov 19, 5:14 AM ET

HANOI, Vietnam - Russia and the United States signed a key trade agreement Sunday, removing the last major obstacle in Moscow's 13-year journey to join the World Trade Organization.

The deal, inked on the sidelines of a gathering of Pacific Rim economies, is a powerful vote of confidence in Russia — the largest economy still outside the 149-member WTO — and signals its integration into the global trading system.

It also marks a bright spot in the two countries' relations that have been marred by disagreements over Iran's controversial nuclear program and Washington's fears of a roll back of democratic freedoms under Russian President Vladimir Putin.

"I am very pleased to be here today to have the opportunity to celebrate this very important milestone as Russia moves one important step closer to becoming a member of the WTO," said U.S. Trade Representative Susan Schwab.

http://news.yahoo.com/s/ap/20061119/ap_on_re_as/russia_us_trade

~snip~ The two countries also managed to overcome the high-profile question of Russia's shaky record on protecting intellectual property rights. Pirated films, music and software in Russia cost U.S. companies nearly US$1.8 billion in 2005.

[Deja Q]

1. It's all on the same continent. That's what matters.

Wait until the US is removed from the WTO because it's not trading anything thanks to our ballooning trade deficit, that freepers bitched at Clinton for, yet have been strangely silent the last 6 years. :shrug: