The United States and Russia have signed a
landmark trade agreement moving Moscow closer to membership in the World
Trade Organization. VOA White House Correspondent Paula Wolfson reports
the deal was announced in Hanoi as the Asia-Pacific Economic Cooperation
summit was drawing to a close.
Word of the agreement came as President Bush sat down for talks in
Hanoi with Russian President Vladimir Putin.
"This is a good agreement for the United States and equally important,
it is a good agreement for Russia and it is a good agreement for the
international trading community," Mr. Bush hailed the deal.
The bilateral agreement followed years of tough negotiations, and
touches on virtually all aspects of the trade relationship between the
United States and Russia. The 800-page document was signed in Hanoi by
trade ministers for the two countries who called it the last stage in a
long journey.
"On my part, I would like to add that we have been in the process of
difficult and elective work, five years of intense effort, which has
culminated today with the signing of the protocol on Russia's accession to
the World Trade Organization which has been a successful outcome of this
effort," agreed President Putin.
The deal is seen as a U.S. vote of confidence in Russia's economy. It
covers everything from tariff reductions on cars, to protections for
intellectual property rights.
Russia is the largest economy still outside the 149-member World Trade
Organization. And the deal was necessary to get the final approval from
the United States needed to bring Russia into the WTO system.
Russia must now sign a multi-lateral trade agreement with the entire
World Trade Organization, a process that Moscow says may take until the
middle of 2007.
While trade was a top issue on the agenda for the Bush-Putin meeting in
Hanoi, it was by no means the only one. President Bush is also seeking
greater cooperation in dealing with the challenges posed by North Korea
and Iran's nuclear ambitions.
While in Hanoi, Mr. Bush met on the sidelines of the APEC summit with
leaders of the other four countries involved in the six-party talks with
North Korea - Russia, China, Japan and South Korea.
The meeting with Chinese President Hu Jintao occurred shortly before
the final APEC session. White House officials said there was a very
specific and very positive discussion on North Korea.
China is North Korea's biggest patron, and has served as the host for
the multilateral disarmament talks. China's Foreign Ministry said
Presidents Bush and Hu agree that Pyongyang must realize the extent of
international opposition to its nuclear program.
After completing his bilateral meetings in Hanoi, President Bush left
the Vietnamese capital for Ho Chi Minh City. He will meet with business
leaders here on Monday and visit a medical research center before
traveling on to Jakarta for talks with Indonesian President Susilo Bambang
Yudhoyono. |