russia's almost two decade long odyssey into the world trade organization is close at hand as moscow overcomes the last hurdle to accession by sealing a crucial agreement with georgia. basically drawing prosecutor record high dragging global markets down and sparking fears that still are barrels coney's promised resignation won't keep the euro zone's third largest economy from collapse. also western powers a push for fresh sanctions against iran following the latest report on its alleged nuclear ambitions by russia rejects the idea is counterproductive. and argues close of team travels to the black sea coast to discover how the local girl made products

are being made and why getting them on to dinner tables is proving difficult. it is a lonely and the russian gaggle you watching r.t.m. arena joshua welcome to the program now it's the and of all long journey for russia a commission engineered by is set to clear all the remaining hurdles for a moscow's a long awaited membership to the world trade organization it comes after russia and georgia finally reached an agreement on bread relating customs on the borders with the breakaway republics of south the city and a positive 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 georgia the agreement signed here in geneva allows the monitoring of all cross border trade between the two countries including the russian backed south ossetia and abkhazia by a private company without the last of george's objections to russia joining the w c o has been dealt with barring any last minute deal relman switch analysts say are always possible but unlikely the package of documents on russia's next 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 the world bank says. could boost the size of russia's economy by more than three percent in the medium term and eleven percent in the long term. laura smith reporting there while some businesses are celebrating the accession others are preparing for

a tough period of transition going to charge as more on what will change in russia's economy a once a file he joins the club. the only major market and g. twenty member still outside the world's largest economic club is russia and membership is eagerly anticipated not only by moscow but internationally before investors especially those in our case will come from the european union are used to working on the regime of the person on the street w g a membership will not be just something they'll read about in the news but it will mean lower prices removing trade barriers between states increases competition prices of imported goods drop and the master companies also broke quicker with foreign markets opening up. the workers of these metallurgical company it only looks like a win win situation their most recent project is the north stream pipeline should

they enter international markets will face very little competition. and this is all so much the largest plant in russia's south producing harvested russia is what a book is full for months ahead and workers look inspired. but the head of the company has a rather different outlook to that of the w t o cheerleaders. our oil and gas will be in demand even without entering the. oil agriculture. agriculture will be among the hardest hit sectors but experts say the domestic automotive industry will be the one to undergo most he will. the troubled mortgage giant up the vase was rescued from the brink of death in the economic crisis of two thousand and eight i promise to put in more than one billion dollars in loans cash and guarantees. i think that's the government's favorite

child but not all car makers in russia are as cherished this used to be a riving once of musk reach open the nine hundred thirty most successful years what it is and sixty's where hundreds of thousands of mosque reach cars flooded the soviet and foreign markets after the collapse of the soviet union last creature was in desperate need of money but the government could not as ward making copper and must reach was caught out. the only way to avoid the collapse of yet another industrial giant experts say is to use the transition period to joining the w g a wisely closely entry to the w t o doesn't mean you instantly have to drop all customs tannish and comply straight away transit so-called transition period roughly seventy years or so protectionist measures will apply for a number of sensitive industries which employ millions of people such as every

culture timber and making but at a certain point the states industrial dependence will have to let go of its hands and work on their own two feet in the world outside it but that should also be a somewhat easier place to do business in libya duction of customs tariffs and trade barriers to a more level playing field across international markets. if you aren't. well we're always eager to know your take on the story and today we're asking hold will benefits for most once russia is finally a member of the world trade organization sic a look now at the site that we've got for you so this is how the opinions divide it so far the majority think as you can see nobody will win in this situation as the organization only adds to the financial mass the world is already and it's almost equal between those who believe that moscow's accession will weigh into the w hands

and that russia will suffer rather than benefit because it will be unable to cope with the competition finally only fourteen percent of the respondents say the w t o membership is actually good for russia as it will boost its role in the global economy so you can let us know what you think on this issue here by logging on to our website our team dot com and of course we'll be more news and opinion throughout the day right here on our network as a working group session in geneva unfolds plus. the watches accession to the w over open new opportunities for business in the country will that will we'll talk about advantages and disadvantages of the w t o this is important for the. prime minister silvio berlusconi is facing his last few days in office as italy moves closer to the financial brink it's gone to raise had emergency levels close to the level which forced greece portugal and ireland to ask for an e.u.

bailout and that's part and global markets and it fears berlusconi's successor won't be able to prevent the euro zone's third largest economy from sinking sarah ferguson reports. we've seen this year raising prices develop an unprecedented race and it's least being the latest country that has been sucked into the debt spiral for which there might be neighbors the theme is boring holes cause that's of interest and most it's an extremely dangerous territory now that's because the market that seven percent is the trigger point at which we saw such a such as ireland portugal in greece cocked to see an emergency from the year is saying and the i and those who say the point which is best to start looking at the countries that with the big deserts in this league think that perhaps there is a possibility that the country won't be able to pay what it would be disastrous for a country with a big debt coming found that about one point eight trillion here has to be

a major problem though investors will say going to be looking at whether the year is in has the resources to then lenz's the in the eventuality that of the other lenders to open up the name and that support is simply not in place a big fund the usa needs wanted to have isn't ready the cost simply isn't there or not could really free a major problem prime minister berlusconi has said that he's going to be resigning he's not putting himself told that he actually felt quite relieved by that that was very very clear right now in the country is the 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 so our first reporting e.u. policies are mostly responsible for the konami problems and that's a view of policy and development specialist power phone. in fact the problem obviously is of course that but the major one is no growth the absence of

growth which is imposed by the policies that european labor and mostly the german positions of how to handle the momentary union this is cosy talk of the balance in the country i think we are edging towards a very dangerous area which is that of the trades of the highest grade with the german bones which of course will look really impossible situation in the stock market the effect of this will be the collapse of the system but this will 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 and new bailout plan which is necessary to get the latest a billion euro loan euro zone is demanding that the two main parties cya letter backing the debt deal but ya opposition says there's no need for a written pledge tollefson a new prime minister and cabinet will resume on thursday with at least financial troubles no closer to being resolved max kaiser and stays in her provide their latest take on the situation in the kaiser report that's coming up in about twenty minutes time. here's a fifty euro roll of toilet currency all of your fifty euro toilet paper currency will soon be about as valuable as this toilet paper except this is all available nightly printed up in this beautiful display case that you can show in your nose 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 that i offer is no definitive proof tehran is actually pursuing it bob by its findings still prompted several countries to call for fresh sanctions that idea has already been rejected by russia's sanctions might be used to force regime change in iran are an edge to count takes a look. lawsuit pending european in some european leaders would ideally one 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 cripple the ukrainian economy and that they say further isolating iran would be counterproductive and instead worship would forward an offer which is still on the table and that is for iran to fully cooperate on 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 the 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's says they won't back off from developing nuclear technologies tensions are really high israel goes hinting that the they are gearing towards preemptive towards a preemptive strike washington say all options are are on the table but despite tough rhetoric coming from both israel and the u.s. many agree that loss into an intel of eve are most likely to use the report as political leverage to try and isolate iran and possibly to put it to 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 continues research on nuclear weapons the agency says its report is based on intelligence gathered by a number of countries including the united states but the u.s. intelligence has a history of presenting false evidence back in two thousand and three to make

a case for war in iraq it presented evidence that seemed so very solid at the time but turned out to be a hoax the question many and i now ask is coop the un's atomic watch stock report serve as a justification to start a war with your brain but security experts say the consequences to such action would be catastrophic. and she countered pouring their iranian basser to the international atomic energy agency has told her team iran is as transparent as any country can be calling the latest report on its nuclear program politicized this newport is not professional and not bad with political and with evasion and under political pressure by the us and couple other western countries this report has an addict in pages of the allegation is and the materials which were handed over only last week to us in a confidential man air temp pages of the report of director general which says that

all activities including a retirement are continuously under to safeguard inspection the only second part which is the n.h.s. is a part of the american delegation the important thing is that we are particularly p.t. all activities are on the. even of a snapshot short busied analyses fiction this is great and we invited the pretty director to allow you to even visit the art and the of since you don't reach him and can you give me any example that any respect or have been permitted to any certainty in any other part of the war and paul craig roberts who worked and 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. which doesn't really say there's no way we're going to. go. washington no spoon there's any

room. to prepare the ground. for a military attack based on nothing in fact the reports there's no evidence of any diversion of turkey there's some sort of hype about it working on a trigger for a nuclear bomb but everyone knows that rand can. enrich uranium to the extent necessary to make a bomb maybe even 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 american deal so it's really done nothing iranians have done nothing. and the americans are continuing to try i mean washington of course. create a pretext for a military attack on iran is totally neoconservative agenda it's been part of the

agenda for what now more dozen years well you know on to our website are plenty more stories including students taking to the streets of london asked by funding cuts soaring two or three b.'s face a wall of police also an anonymous car group valve's its next target will be the muslim brotherhood website find out. when and why they say they're going to attack. and northern cause when nato peacekeepers have fired tear gas and apnic serves to seize one of the barricades several months ago in an ongoing boards but gains were short lived after a new split up nearby crash as nick violence flared up soon after the incidents whether at least three serbs in zurich and i set out with a local ethical beignets political analyst tell example politics believes there is

a bigger picture behind me as actions. they've been doing it for years now and they've broken their mandate actually they're doing the job of all being in control government and prishtina they're doing it openly in spite of their mandate from the u.n. which is supposed to be a peacekeeping then they keep to the warring sides separated this is an aggressive show will force their way they're acting like an occupier instead of peacekeepers and they're behind the crisis in greece they're behind the crisis in iran we're seeing right now is the sowing of the new world disorder and serbia is one of the flashpoints i sense you can look at some of the stories from around the world and earthquake has hit eastern turkey killing at least seven people and leaving scores trapped under rubble about twenty people however have been pulled from that of rain earlier rescue efforts dozens of buildings collapsed in the city of van as a traveler measuring five point seven magnitude struck comes only

a fortnight after and now other wake in the same region killed at least six hundred leaving many more homeless. if you ask police and riot gear or have clashed with student protesters abby university of california berkeley after they refused to dismantle their camp towns were wrecked the following a march against jewish increases for students several activists have been arrested and some claim to have been beaten up by police with the times the rally is part of the occupy wall street movement against the quality that's been sweeping the u.s. for weeks. some arab leaders are reportedly offering asylum to syrian president bashar asad to ease his departure from power and that's according to a senior u.s. official although he did not identify the countries that had offered to take us again it comes a day after activist groups claimed around tampa people were killed across syria by

security forces in the latest crackdown but syria's deputy foreign minister has told r.t. the true trigger for protests are terrorist organizations outside the country those who are provoking these developments on syria to go through the civil war particularly when you correctly define those forces. those with them it just extremists. drug traffickers. smugglers they have beautiful wife with up to their technology your communication. by the north forces from outside syria the use of those to smuggle the consumer you who encourage people to disturb the peace in the country and not to mention the tens of thousands of weapons that have been smuggled into the country from piercy from libya from

iraq and neighboring countries. well time now to explore another corner all the world's biggest country and our russia close up series. of russia's black sea coast isn't famed across the globe for its who are a dying yet and some pioneers are trying to put their region on a world food map tom dart went to see a local farmer struggle to get there the alec as he's on the russian as well as the global market. there may be treats from russians changed but these luxury free juices are struggling to find a market this is the only muscle in at least a farm in the area just of the black sea closed it's run by 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 so we opposed to company and arrange so million rubles for a start up it's a risky business with a storm capable of grueling a year's work 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 thorin menus so we started asking for more mussels mussels in oysters are currently very popular in russia in fact the efforts of these guys are unique here but they're hoping to grow markets without underwater bounty but not the only ones hoping for a place on the russian dinner table. at this vinnie arden tourist center inland yanis and his family have been farming for decades he's

a great descent and helped his father establish the farm recently he decided to try and make wine here kids and if we need three years to establish the vine then five years for a good product in a few years i think we can produce great russian wine here. the climate and weather good for great grain here but younis is hesitant to try and make this into a proper business and scorer upshot of this putting him off just mature i look at least 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 they were but with a creative approach are not scared people in authority are the ones who should be kept from power if you do not respect our citizens because yes complains that the 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 here but he still loves the region and hasn't

given up hope of making it up to almost three years through good great growing areas in russia this is a favorable area so if your thirty's don't interfere we can from a top 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 party. well that brings us up to date now see what's happening in the world of business carrying us here with us . thanks for joining me 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 business in the country meaning domestic companies will face tougher

car however chris wait for fun. for most changes and not likely to come past. i think some industries would love to see face competition immediately. abstention services insurance companies and other financial services would be able to establish fully sold domestic subsidiaries and they're expecting to come in fairly quickly on the other hand if you go down say to some of the consumer sectors and perhaps the manufacturing to be old research or were prime minister putin has already said to be he's looking for a grace period to allow the russian companies to adopt and to improve to get ready for competition but i would expect russia will be looking for something similar maybe a five or six year lead in period for some of these industries. looking at the markets asian markets on thursday tracking steep falls in the u.s. where markets plunged more than three percent on wednesday missiles were dumping stocks after a surge in italian growing cost spreads nicky's losing nearly three percent of hong kong's hang seng down or so financial firms that exporters are among the hardest

hit throughout asia among major exporters toshiba lost over five percent. panasonic four point eight percent. here in moscow markets are extending wednesday's losses and trading following poor performance in the rest and asia yes it was in one point eight percent in the eyes it's down nearly running. most of the blue chips are trading in the red with crossing up more than one and a half percent bankers losing around two percent the lender has reported more than two fold increase in net profit for the first ten months of the year that's under russian accounting standards. is also down the company's earnings have jumped almost eight percent a child growing up. who was trading higher today low as a best speculate that recent gains were exaggerated prices a little change up to drop me for the first time in six days all right stay concerns about iran's nuclear the still giving some support however a quarter kampung to fake

a plots believes the general sentiment remains. if we do catch ourselves from the bait today price more times i think there are some other trends that are a lot larger. concern those larger trends are going slowdown that is occurring in europe the rising concerns about the ability by major governments in europe to fund their ongoing activity is the likelihood that some of them one able to leave will suddenly be asian so. basis i think there's going to boil consumption and slow down the west's so much that actually in your situation in the middle east would also potentially be seen as negative rather than us i suppose at the moment in price so i think on the whole right now we're looking down the road. it's

a giant pirelli plans to invest more than four hundred million euros at both presence in russia the company says it aims to become the country's second largest producer and went around twenty percent of the market in several years already has agreed to buy two big parts of the european part of russia it wants to improve capacity to around ten million units a year and currently the company has less than two percent of the russian market. so we have time for now but don't forget you can always find law stories just log on to our web site costs that's. going. to.

wealthy british soil. sometimes the type of money. markets try not. to. find out what's really happening to the global economy with mike's concert for a no holds barred look at the global financial headlines tune in to cause report on r.g.p. in the united kingdom and she's available in thirty house bill and of course the one who took the old away from the hotel to get the call so it's a.