The EU and Russia will complete next week the bilateral talks that will remove the final obstacle for the latter's accession to the World Trade Organization (WTO).

Thus, on December 7, during the EU-Russia summit in Brussels, the two sides will ink a document settling all bilateral trade issues, announced the head of the EC Delegation in Russia, Fernando Valenzuela, as cited by RIA Novosti.

Valenzuela made it clear that the bilateral talks with respect to Russia's long-anticipated accession to the WTO have almost been wrapped up, and that the EU and Russia will also sign a modernization partnership agreement.

Russia and the EU have settled all problems for the former's accession to the World Trade Organization, according to Russian Deputy PM Igor Shuvalov said last week, which was confirmed by EU Commissioner for Trade, Karel De Gucht.

Russia has been bidding to join the WTO since 1993, it is the only major global economy that does not belong to the organization. Its accession requires the agreement of all 153 members of the WTO.

After securing EU's agreement, Russia appears to have made the last big step towards WTO membership. In September, Russia got the approval of the US after long-term disputes.

On the table were a host of issues, led by Russian export taxes on raw materials, especially timber. EU officials concede that Russia could be delayed by the long list of WTO rules with which it must comply, including canceling state-aid programs, unfair health rules for farm imports and weak enforcement of intellectual property rights.

According to Shuvalov, as of now there are no indications that Georgia, a WTO member in conflict with Russia, might veto Russia's accession.

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