Putin against postponing Russia's WTO deal

MOSCOW - Russia's new President Vladimir Putin said on Tuesday that he was against the proposal of delaying ratification of the agreement on Russia's accession to the World Trade Organization (WTO).

"We cannot delay that for a year or two," Putin said, adding " that would mean our refusal to join the organization."

Dmitry Medvedev, the prime minister Putin nominated, echoed his view, saying "I think the timeframe will be quite sufficient, because it's five years, and maybe even more, to enable us to get ready properly."

Meanwhile, the new prime minister said Russia would be prepared to support the domestic economy even after the entry into the WTO.

"We will always be able to take certain steps and make decisions for assisting our economy, our industries and agriculture, even after the entry into the WTO," he said, noting " The WTO is an important entity, but we have our interests too."

In December 2011, the WTO decided to give a final approval for Russia's membership at a ministerial conference, ushering in the last major economy outside the trade club.

The Russian parliament will have to ratify the deal till June 15.