Georgia offers Russia ‘take it or leave it’ deal on WTO membership

RUSSIA was close to joining the World Trade Organisation (WTO) after being offered a “take it or leave it” compromise by its tiny neighbour Georgia — the last holdout in Moscow’s tortuous 18-year path to membership of the global trading club.

Russian entry to the WTO would be the biggest step in world trade liberalisation since China joined a decade ago, and the US and the EU have urged all sides to try to settle membership terms by the end of this year.

Only Algeria has spent longer trying to negotiate WTO membership, and after a big diplomatic push, trade diplomats say the conditions are so favourable for Russia that it is a case of ‘now or never.’