16 Dec 2011

Russia joins WTO

9:21 pm on 16 December 2011

Russia officially becomes a member of the World Trade Organisation on Friday, 18 years after negotiations first began.

A formal ceremony will take place in Geneva to mark the accession of Russia, which until now was the biggest economy outside the WTO, the BBC reports.

Some estimates suggest Russian membership will help to boost its economy by tens of billions of dollars each year.

In return, Russia is expected to become more transparent and follow international rules.