well it's the end of a long journey for russia a commission in geneva is set to clear all the remaining hurdles for of moscow's long awaited membership to the world trade organization it comes after russia and georgia finally reached an agreement on regulating customs on the borders with the breakaway republics of south. artie's laura smith has more from geneva. this could be the end of an eighteen year process the last big hurdle to russia joining the world trade organization has been successfully negotiated on wednesday russia accepted a trade deal with the agreement signed here in geneva laos the monitoring of all cross border trade between the two countries including the russian backed south ossetia and abkhazia by a private company with that the last of georgia's objections to russia joining the w t o has been dealt with barring any last minute deal realm and sways analysts say are always possible but unlikely the package of documents on russia that session

could be approved by a working group on thursday or friday with membership formalized in december russia's accession will be the biggest step towards liberalizing trade around the world since china joined the w t o around ten years ago analysts say any indication of a deal could boost the russian stock market by five percent providing a base of relief from eurozone uncertainty and the world bank says. he could boost the size of russia's economy by more than three percent in the medium term and eleven percent in the long term or smith reporting there will be more news and opinions rather day here on r t as the working group session engine eva unfolds meanwhile you can find more analysis on the issue on our website are to go on in our business to jaroslav the symbolic chief economist at deutsche bank russia to find out what he thinks of russia's so long on terror website are calm and.

prime minister silvio berlusconi is facing his last few days in office as italy moves closer to the financial brink as bond rates hit emergency levels close to the level which forced greece portugal and ireland to ask for an e.u. bailout that sparked panic in global markets and it fears it was county successor won't be able to prevent the third largest economy from sinking artists are first reports. we've seen this year is a in crisis developed an unprecedented rate and it's least being the latest country that has been sucked into the debt spiral for which that might be. the scene is boring calls cause seven. puts it an extremely dangerous territory now that's because most of that seven percent is the trigger point at which he still countries such as ireland portugal and greece have to see an emergency from the usa and the i

am that there is also the point at which investors start looking at the countries with a big that such as this please think that perhaps there is a possibility that the country won't be able to pay what it did at that point investors will stop lending now that would be disastrous for a country with a big. company stands at about one point eight trillion a year to be a major problem though investors are also going to be looking at whether the us and has the resources to bend the lens is the in the eventuality that of the other lenders stop at the moment that support is simply not in place a big. need is wanted to have that isn't ready the cost simply isn't there and that could really pre a major problem now the financial crisis we see bred into a political crisis in these countries and italy has been no exception prime minister berlusconi has said that he says he's going to be resigning he's not

putting himself told that he actually believes by that no you go and seize it any type of interim government actually going to be able to push through some of these measures that the markets are going to be looking very closely for me being pulled whether it's really whatever government has moving forward has the political will to push through these very necessary measures i was very very clear right now in the country is that how and when the new government is going to be pulled is not going to provide a quick fix to the financial problems in the country sarah first before their policies are mostly responsible for italy's economic problems and that's the view of policy and development specialist paolo rafal. certainly what we see on the financial ground effect of very strong speculative movements that is going on now for several months over the italian economy and the state dept to g.d.p. ratio was unsustainable in fact the problem of easily ease of course the debt

but the major water is no growth the absence of growth which is imposed by the policies or to repeatedly even the most of the german positions on how to handle the momentary union this is cozy talk to them balance in the country i feel we edging towards a very dangerous area which of course will luck reate impossible situation in the stock market the effect of this would be the collapse of the system but this would create a couse in the country instead of a solution. italy may now be seen as the greatest threat to the eurozone but crisis veteran greece is still in turmoil three days of power sharing talks have so far failed to yield a result and it's still not clear who will be the next prime minister the new government will have to pass

a new bailout plan which is necessary to get the latest a billion euro loan euro zone is demanding that the two main parties sign a letter backing the debt deal by the opposition says there is no need to make a written pledge taksin a new prime minister and cabinet will resume on thursday and with financial troubles no closer to being resolved max kaiser and stacy herbert provide the or latest take on the situation in the kaiser report that's coming up later today. here's a fifty euro roll of toilet currency all of your fifty euro toilet paper currency will soon be about as valuable as the store the paper except this is all available nightly printed up in this beautiful display case that you can show in your hose and tell your kids all about what happened in europe. the u.n. atomic watchdogs latest report on iran's alleged nuclear ambitions has split the

international community i am offers no definitive proof to iran is actually pursuing a bomb but it's fighting still prompted several countries to call for fresh sanctions that idea has already been rejected by russia who says sanctions might be used to force regime change in iran artie's gun each account takes a look. the u.s. and friends called for a meeting of the u.n. security council to discuss the possibility of imposing a new round of sanctions on iran washington and european and some european leaders would ideally want to impose crippling economic sanctions sanctions that would further isolate iran but we know that two of the permanent members of the u.n. security council that is russia and china have made it clear that they don't want to be reigning in economy and that they say further isolating iran would be counterproductive for example russia so for a deputy foreign minister said eighty additional sanctions on iran would.

would be perceived by the international community as an instrument for regime change in tehran the statement itself indicates how opposed russia is to tougher sanctions against iran instead russia put forward an offer which is still on the table and that is for iran's to fully cooperate on the inspections and to prove that what they say about the civilian purpose of their nuclear research is true and is not a cover up for oil for a weapons program and in return the international community would be ready to consider lifting sanctions and that's the offer which is still standing iran says they won't back off from developing nuclear technologies pensions are really high israel was hinting that they are gearing towards preemptive towards a preemptive strike washington said all options are on the table but despite tough rhetoric coming from both israel and the u.s. many agree that washington and tel aviv are most likely to to use the report as political leverage to try and isolate iran and possibly to put

a dent you know in flourishing economic relations with china the u.n. nuclear watchdog report itself does not reveal a smoking gun but it sure hyped up fears that iran continue its research on nuclear weapons the agency says its report is based on the intelligence gathered by a number of countries including the united states but the u.s. intelligence has a history of presenting false average in. back in two thousand and three to make a case for the war in iraq it presented everything that seemed so very solid at the time but turned out to be a hoax the question many now ask is could the u.s. atomic watched awkward port serve as a justification to start a war with iran but security experts say the consequences to such action would be catastrophic. reporting there while the reigning ambassador to the international atomic energy agency has told r.t. iran is as transparent as any country can be calling the latest report of its nuclear program politicized this you not professional and not.

with political motivation and under political pressure by u.s. and couple of the western countries this report has and they excel fifteen pages of the allegations and the materials which were handed over only last week to us saying that companies should read the temp pages of the report of director general which says that all activities including a retirement are continuously on their deceive inspection the only second part which is the n.a.s. is above the american allegation the important thing is that we are party to n.p.t. all activities are on the. even of that shark short visit unannounced inspections this is great and we go invited depleted director general by to even visit the ata and the of richmond can you give me any example that any respect or being permitted to any. other part of the war

and paul craig roberts who worked in ronald reagan's administration believes the purpose of the i.a.e.a. report is to pave the way for a long planned military strike against iran. we now have a new poll what which doesn't really say anything there's no evidence and it is just some innuendo and washington will not spin this innuendo to try to prepare the ground as they did with iraq. time for a military attack based on nothing in fact the report said there's no evidence of any diversion of any new to tara that there's some sort of hype about they're working on a trigger or a a nuclear bomb but everyone knows the ranch and not. enrich uranium to the extent necessary to make a bomb baby even said they won't even enrich uranium to the stage to use for

medical isotopes they're willing to have that done outside the country it's the americans who block that deal so so they've really done nothing iranians have done nothing. and the americans are continuing to try i mean washington goal was to create a pretext for a military attack on iran is part of the neo conservative agenda it's been a part of the agenda for what namable and what it doesn't years. while we are always eager to know your take on the story and today we're asking you how grave the chances of a military intervention against iran are let's take a look at the side so far most of the viewers believe the incursion is sure to happen as american israel need this war sixteen percent are the opposite opinion saying there is no possibility whatsoever of an intervention and the rest of you are evenly split as we see between the chances of military action depending on the

country submitting to the nuclear to the u.n. nuclear watchdog since factions or that intervention is unlikely unless tehran events as the. have your say.

and northern cost of a nato peacekeepers have fired tear gas at apnic serbs to seize one of the. barricades set up months ago in an ongoing border dispute by the gains were short lived after a new road block was put up nearby fresh as the violence flared up soon after the incidents where these three serbs injured in a shootout with local ethnic albanians political analyst alexander poundage believes there is a bigger picture behind nato's actions. they've been doing it for years and they've broken their mandate actually they're doing the job of the albanian controlled

government in prishtina and they're doing it openly in spite of their mandate from the un which is supposed to be a peacekeeping mandate to keep the the warring sides separated this is an aggressive show of force thing like an occupier he said of the peacekeepers they're behind the crisis they are really still to come the crisis in iran we're seeing right now is the sawing of the new world disorder and serbia is one of the flashpoints a log on to our web site for plenty more stories including students taking to the streets of london master fied finding gods and soaring tuition fees they saw was police also and i was happy our group values its next target will be the muslim brotherhood website to find out when a why they're going to tag on our t.v. dot com. well let's now take a look at some other stories from around the world an earthquake has hit eastern

turkey killing at least seven people and leaving scores trapped under rubble about ten people however have been pulled from the debris and early rescue efforts dozens of buildings collapsed in the city of van as the tremor measuring five point seven in magnitude struck it comes only a fortnight after and another quake in the same region killed at least six hundred leaving man more homeless. us police in riot gear have clashed with student protesters as the university of california berkeley after their refused to dismantle their camp tans were erected following a march against tuition fee increases for students several activists have been arrested and some claim to have been beaten up by police with petards the rally is part of the occupy wall street movement against economic inequality that's been sweeping the u.s. for weeks. some arab leaders are reportedly offered asylum to syrian president bashar asad to ease his departure from power that's according to you in

the u.s. assistant secretary of state although the official did not identify the countries that had offered to take in but it comes a day after activist groups claim that around ten people were killed across syria by security forces in the latest crackdown but syria's deputy foreign minister and . the true trigger for protests are terrorist organizations outside the country. those who are provoking these developments have to go through a civil war particularly when we correctly define those forces i'll tell you. the village of extremists cell ifs drug traffickers and smugglers they have been a provider with up to date technology of communication. by the north forces from outside syria millions of. those were smuggled into syria to encourage people to

disturb the peace in the country and not to mention the tens of thousands of weapons that have been also smuggled into the country from here kitty from lebanon from iraq and all neighboring countries. well time now to explore the world's biggest country and our russia close up series . the russia's black sea coast isn't famed across the globe for its go in a diving yet some pioneers are trying to put their region on the world food map on bargain when to see local farmers struggle to get their delicacies on the russian as well as the global market. gourmet treats from russia's coast but these luxury food producers are struggling to find

a market this is the only muscle and at least a farm in the area just off the black sea coast it's run by forex scientists to study the region's marine life back in the u.s.s.r. . that when you were thrown out that way when the country collapsed science collapsed we were fired from our jobs in america research center but we were good at growing muscles and oysters and so we approached a company and arranged a million roubles for a start up it's a risky business with a storm capable of ruining a gears work with america but without any major setbacks they can harvest twenty tons of mussels a year the problem then is trying to sell them. even on the black sea coast this is not ordinary food only the last two decades of russian started travelling abroad and seeing foreign menus so they started asking for more mussels mussels an oyster as are currently very popular in russia in fact the efforts of these guys are unique here but they're hoping to grow markets for the underwater bounty but not

the only ones hoping for a place on russian dinner tables. but this has been yard and tourist center inland yanis and his family have been farming for decades he's of greek descent and helped his father establish the farm recently he decided to try and make wine here kate is that we need three years to establish the vine in five years for a good product in a few years and i hope we can produce great russian wines with your the comet and whether a good for a great grain here but janice is hesitant to try and make this into a proper business it's corruption that's putting him off yes martin or i lewis like an artist painting a picture if i wanted a serious business i'd be too scared of corrupt officials taking it from me where there were but with a creative approach i'm not scared to the people in authority are the ones who should be kept from power they do not respect our citizens janish complains that a license to sell his wine costs one and a half million dollars far too much for

a small producer like himself this also prevents a good wine industry from developing. but he still loves the region. and hasn't given up hope of making up for months and years to good great growing areas in russia this is a favorable area so if you don't interfere we can from a brand improve ours is as good as any french wine. at the moment you have to look carefully to find local wine and mustn't produces on russia's black sea coast but who knows within a few years this region could become a center for gourmet russian dining tom bottom. well later today will be traveling nine thousand kilometers to the east to explore a while the most unusual environments and russia where our taken african wildlife live side by side well that's now our special report coming to layer.

discovery. communicate with you want to. test yourself and become free. see what nature can give you. back with our recap our top stories in just a few moments before that powell will take a look at what's happening and the world of business with korea. it's twenty three minutes past eight o'clock here in moscow welcome to our business update the moment of truth is almost here for russia to join the world trade organization moscow's accession to the club will open new opportunities for foreign businesses in the country meaning domestic companies face tougher competition of course we've heard from target alex says for most changes are not like cultist. i

think some industries would love to see face competition immediately perhaps financial services insurance companies and other financial services companies would be able to establish fully owned domestic subsidiaries and they're expected to come in fairly quickly on the other hand if we go down say to some of the consumer sectors and perhaps the manufacturing particularly the sector where prime minister putin has already said to these looking for a grace period to allow russian companies to adapt and to improve or to be get ready for competition i would expect russia would be looking for something similar maybe a five or six year lead in period for some of these industries. looking at the markets now could oil is trading near today low as investors speculate that the recent gains were exaggerated prices are going to change that probably the first time in six days on wednesday concerns about iran's nuclear plans are still giving us some support. probably believe the general sentiment there.

are cells from the bay today price movements i think there are some of the trends that are a lot larger than the uranium concern those larger trends are of the slowdown that is occurring in europe rising concerns about the ability by major government seen europe to fund their own going out. on the likelihood that some of them able to meet those obligations so. basis i think does going to impact the oil consumption and slow down the west's so mauch. actually. in the middle east could also potentially be seen as negative rather than us i suppose the prices so i think on the whole right now we're looking down the road then up. and looking at asia now when markets drop tracking steep falls in the u.s.

where markets plunged more than previous and investors were dumping stocks not just so as an italian borrowing costs japan's nikkei is dropping more than two and a half percent and hong kong's hang seng is nosing around over four percent financial firms and exporters among the hardest hit asia in hong kong industrial and commercial bank of china seven point three percent and agricultural bank of china gave up four and a half percent. and two hours ahead of the opening bell here in moscow russian equities ended wednesday's trading session in the web of lies excess down more than three percent while the r.t.s. lost over a four percent gain in coach miles of alpha capital believes that question will dominate volatility but park in hunter. valley. looks law you should probably know. a ball european cross a score of course a group of the major sole source of volatility in the medium term however we are thinking about investors should choose their towards fundamental data to worse

macroeconomic data towards results of the companies in the recent couple of weeks we're seeing mosteller positive economic data flowing house we believe one to weakness spot term used to persist in the market so trouble blue. selloffs can be used were increasing position so that the big bet of prices. ok that's all for this i'll be back in about fifteen minutes one.

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in two thousand and ten especially konami exulted for industrial production was established in russia somalia region with a total area of six hundred sixty ect as. its investors are granted exclusive tax and customs benefits which includes a five year exemption from property lands and transport taxes as well as an income tie. fifteen point five percent of the special economic zone. has a free customs zone which enables manufacturers to move. in russia in. the region is currently witnessing a sewage infrastructure construction the region special economic zone promises exceptional. business in russia. to the smaller regions for more information.

here's a look at the top stories russia's odyssey to join the world. after almost two decades. on the way to accession by sealing a crucial customs agreement with. borrowing costs. pushing the country to the brink of financial collapse and dragging global markets down. promising to reside as soon as parliament approves. crash sanctions against iran following the latest report on its alleged nuclear ambitions of russia rejected the.