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STUDENT NAME: ABSTRACT NUMBER : 2 COURSE NUMBER: BUS5110.e1 - International Business SUBMISSION DATE: 10/08/2010 ABSTRACT NO. 2 1-Article Title: After 17 Years, Russia Resolves U.S. Objections for Entry Into W.T.O. 2- Article Source: This piece of writing is an article by Andrew E. Kramer. It was published on October 1, 2010 by The New York Times. http://www.nytimes.com/2010/10/02/business/global/02trade.html? _r=1&ref=world_trade_organization 3- Key Points: This article is about Russia’s accession to the World Trade Organization (WTO). Russia has been trying to enter the WTO longer than any other country. Due to several disagreements, the United States has been objecting Russia’s membership to the organization. After seventeen years (17) years of dialogue, the two countries have been working finally on an agreement. However, even with the approval of the United States, the nation’s membership is still not
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guarantee. Despite U.S support, Russia’s WTO entry still faces opposition in Georgia and other areas. 4- Reference to Text: Kramer’s piece of writing relates to different key areas of the text. First, information at page 105 of the text reveals that “the WTO is a rules-based, member-driven organization, with decisions negotiated by all the member governments.” Russia’s membership has to be approved and negotiated with all member governments to allow its entry. All member governments have a voice. Thus, Georgia or the U.S can object another country’s bid. Second, page 107 of the book explains that one of the WTO principles is to trade without discrimination. As observed in the article, Russia will have to trade “without discrimination” to smaller trading partner such as Georgia. Finally, the text also elucidate that “one of the most difficult negotiation areas facing WTO members is trade-related intellectual property rights (page 108).” Russia’s new adopted regulations on intellectual property rights (such as patented pharmaceuticals) were among the reasons the country starts gaining support.
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