Biden arrived in Russia on Tuesday. His visit is taking place against a backdrop of the second anniversary of the much heralded ‘reset’ in bilateral relations, notable in particular for the signing of a new arms deal between Russia and the United States.
On Wednesday, Biden met with Russian President Dmitry Medvedev, and said that Russia’s membership in the WTO was a top priority for the United States.
The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.
The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994).
My Note –
If you would like to read this from what the Russian people see – more or less –
it is at least the Russian International coverage of it from their news sources –
Ria Novosti – (in English, can be read in the original Russian also)