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Russia's accession to the WTO could resolve many problems in Russian-Chinese trade relations
Russia's accession to the World Trade Organization could resolve many problems in Russian-Chinese trade relations, a high-ranking official from the Chinese Trade Ministry told RIA Novosti. "We hope the customs situation will improve after Russia's accession to this organization," the official said. In 2004, Russia and China signed a bilateral agreement on the WTO. The official said that the main Chinese demand was that tariffs on a number of goods and services be reduced. "Russia has met about 70% of our requirements, therefore we are satisfied with the terms of this agreement," the official said. Russia has been seeking to join the WTO for the past years. Earlier this month, the Russian negotiators said that Russia could complete talks with all of the WTO member states prior to the 6th WTO ministerial session in Hong Kong in December 2005
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