The World Trade Organization (WTO) approved an agreement to admit Russia into the organization at a ministerial meeting in Geneva, Switzerland, on Friday. The event marks the end of Russia's 18 years of negotiations and a turning point f orthe 1.9 trillion USDeconomy. Russia now has six months to ratify its membership and could become the WTO's 154th member 30 days later. WTO Director General Pascal Lamy said that it is a historic moment for Russia and for the multilateral trade system, adding that with Russia’s accession, more than 97 percent of all world trade will take place among WTO member countries.