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Putin Signs Protocol On Russia Joining WTO

Russian President Vladimir Putin
Russian President Vladimir Putin has signed the protocol for his country to join the World Trade Organization (WTO).

Putin's signature ends 18 years of Russian efforts to join the WTO.

Russia had been the largest economy outside the WTO.

Supporters said Russia's entry will improve foreign investment and help Russian businesses but some Russian businesses are concerned the low import duties and caps on subsidies that WTO regulations require will have a negative effect on their enterprises.

Based on reporting by AFP and IFX Rus