Russia set to join WTO after 18 years of negotiations

After 18 years of talks, Russia is set to join the World Trade Organization (WTO). The Swiss government brokered a deal between Russia and Georgia earlier this year and paved the way for Russia's membership.

Georgia had tried to obstruct Russia's WTO entry since the two countries faced each other in an armed conflict in 2008. Russia and Georgia reached an agreement over trade along the mutual borders of Abkhazia and South Ossetia. The two provinces have broken away from Georgia and are recognised as independent states by Russia.

The WTO regulates and supervises international trade liberalisation agreements between member countries.