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Russian upper house of parliament ratifies WTO entry protocol

The Federation Council passes the bill ratifying Russia's entry into the WTO

The Russian upper house of parliament passed the bill ratifying Russia's entry into the WTO, the final legislative step required before President Vladimir Putin signs it into law.

The ratification of the protocol, signed in Geneva in 2011, brings to an end the 18-year long period of talks that Russia has conducted on joining the organization.

155 world nations are currently WTO members. Granting membership to Russia is seen as a move that will boost labor productivity and production efficiency in this country.