EU to speed up talks on Russia's WTO bid

By William Schomberg

DAVOS, Switzerland (Reuters) - The European Union will speed up talks with Russia to try to unblock Moscow's long-delayed bid to join the World Trade Organisation, the EU's trade chief said on Friday.

European Trade Commissioner Peter Mandelson told Reuters, after meeting Russian officials, that he hoped Russia could finally take its place in the global trade body this year, more than a decade after Moscow launched its accession bid.

Mandelson met Russian Finance Minster Alexei Kudrin on the sidelines of the World Economic Forum in Davos on Friday.

"It was a useful and constructive meeting and we have agreed to accelerate and intensify our efforts to resolve all remaining difficulties with a view to getting Russia into the WTO this year. This is our clear goal," Mandelson told Reuters.

Russia remains one of only a very few big economies still outside the 151-member WTO and it saw neighboring Ukraine gain clearance from the EU for its accession bid earlier this month.

Joining the organisation would make it easier for Russian exporters, including major producers of steel and fertilizers, to sell their products while at the same time its own market would open up further for foreign companies.

A WTO panel approved Ukraine's membership bid on Friday, clearing the way for the former Soviet republic's accession.

TENSIONS WITH UKRAINE