Russia stood today on the verge of ending its tortuous 18-year wait to get into the World Trade Organisation after accepting a Swiss-mediated deal that removed reservations by its arch-foe Georgia.
The decisive breakthrough came after months of closed-door diplomacy in Switzerland between two rival neighbours that have only had limited ties since waging a five-day war in 2008.
Russia is now finally poised to shed its status as the world’s largest economy outside the world’s premier free trade club by winning formal accession at a meeting tentatively set for the middle of December.
“We are happy that Georgia supported the project and that the agreement has finally been reached,” Interfax quoted chief Russian negotiator Maxim Medvedkov as saying.
The news was initially broken by the Georgian side after days of silence from Moscow over what Tbilisi had clearly indicated was its final offer.
“The Russians have agreed on the Swiss proposal. We have no details about their decision, but it looks like the deal is made,” the Georgian Deputy Foreign Minister, Mr Sergi Kapanadze, said.
Tbilisi had been demanding international monitoring of cross-border trade in its Russian-backed breakaway regions of Abkhazia and South Ossetia. Moscow had wanted to police the border with the help of local and Russian patrols.
Mr Medvedkov said a part of the deal would see an independent company contracted to audit trade in the disputed region.
That firm would also act as a mediator and information handler between Georgian and Russian customs agents.
There are two more lower-level WTO meetings scheduled for November before all of the bloc’s top representatives gather for a December 15-17 ministerial meeting at which Russia’s membership is due to be put up for a vote.
Russia has already ironed out its disputes with the European Union and has no direct trade issues remaining with the United States. Other big nations such as China are also on board.