Russia and US close to deal on WTO bid

The United States and Russia are close to a deal on Moscow's 13-year-old bid to join the World Trade Organisation, US trade officials said yesterday.

"We believe that we are close to resolving all remaining issues in the bilateral [ deal] and both sides are now in the process of consultations," said Sean Spicer, a spokesman for the US Trade Representative's office.

Chief Russian WTO negotiator Maxim Medvedkov has returned to Moscow after intensive talks with US trade officials.

A bilateral deal with the US would eliminate one of the biggest remaining hurdles to Russia's entry into the Geneva-based world trade body.

The latest talks followed a failed effort to reach a deal before the Group of Eight summit meeting in St Petersburg in July. After that, US President George W. Bush and Russian President Vladimir Putin set a goal of finishing in October.

An agreement would give the two leaders something to celebrate when they attend the annual APEC (Asia Pacific Economic Cooperation) summit meeting in mid-November.

Putin was furious when the two sides failed to wrap up a trade deal in St Petersburg, and the climate between Moscow and Washington has grown chillier since.

Russia has snubbed the US by saying it will develop its Shtokman offshore gas field - with enough reserves to supply the world for a year - without the help of US oil majors. And an escalation in tensions between Russia and ex-Soviet Georgia, a US ally and WTO member, could yet derail Moscow's bid to join the trade group.

A spokeswoman for Russia's Economy and Trade Ministry declined to elaborate on the state of the talks, citing an agreement by both sides not to comment.

Separately, the American Chamber of Commerce in Russia said a group of executives from 13 US blue-chip companies had written to Bush and Putin last week urging them to wrap up a deal. - Reuters