it is eleven am in the russian capital you're watching r.t.m. arena joshua into the program now it's the and of all long journey for russia a commission in geneva is set to clear all the remaining hurdles for abbas goes a 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 the city and a posse 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 july the agreement signed here in geneva and allows the monitoring of old cross border trade between the two countries including the russian backed south ossetia and abkhazia by

a private company without 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 that package of documents on russia's 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 the world bank says she 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. as more on what will change in russia's economy a once a final he joins a 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 but foreign investors especially those who come from the european union are used to working on the regime the person on the street w t o membership will not be just something they'll read about in the news but it will mean flow of prices removing trade barriers between states increases competition prices of unfortunate goods drop and domestic companies also broke quicker with foreign markets opening up. for 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 raw say much the largest plant in russia 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 well agriculture will tumble. agriculture will be among the hardest hit sectors but experts say the domestic automotive industry will be the one to undergo most step he will. the troubled mortgage giant of the vase was rescued from the brink of death in the economic crisis of two thousand and eight by prime minister putin with more than one billion dollars in loans cash and guarantees. are there as is the government's favorite child but not all car makers in russia are cherished this used to be a thriving plant of musk reach open the 1930's most successful years what the fifty's and sixty's when hundreds of thousands of musk reach cars flooded the

soviet and foreign markets after the collapse of the soviet union must creature was in desperate need of money but the government could not it's too loss making copper and must reach was tossed out. the only way to avoid the collapse of yet another industrial giant experts say is to use the transition period after joining the w two wisely firstly entry to the w t have doesn't mean you instantly have to drop all customs tires and comply straight away there's a transit so-called transition period roughly seven years or so protectionist measures will apply for a number of sensitive industries which employ millions of people such as agriculture timber and come making but at a certain point the state's industrial dependence one have to let go of its hand 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 liver duction of customs tariffs and

trade barriers to a more level playing field across international markets exceeding the gracia of a r t. well we are always eager to know your take on the story and today we're asking whole will benefit the most once russia is finally a member of the world trade organization take 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 by logging on to our website 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. well wishes accession to open new opportunities for business in the country of world that will we'll talk about advantages and disadvantages of joining the w t o this is what. 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 and that sparked panic in global markets amid fears berlusconi's successor won't be able to prevent the euro zone's third largest economy from sinking r.t. sarah ferguson reports. that he's seen this year raising prices developed an

unprecedented rate in its least being the latest country that has been sucked into the debt spiral which then might be david if the scene is boring post cause that's been most it's an extremely dangerous territory now that's because most of that seven percent is the trigger point at which he still doesn't see such as ireland portugal and greece top to see an emergency from the usa and the i.m.f. there's also the point at which investors start looking at the countries that with the big deserts of this lease 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 you're going to be looking at whether the year is in has the resources to then lend says the in the eventuality that of the other lenders to open up the moment that support is simply not in place

a big. usa need is wanted to have that isn't ready the cost simply isn't there and that 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 that how when a 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 down e.u. policies are mostly responsible for the konami problems and that's a view of policy and development specialist paolo rafal. in fact the problem visually is of course the debt but the major one is no growth the absence of growth which is imposed by the policies at european level and mostly by the german decisions of how to handle the monetary union this is cosy talk to the balance in

the country i think we are edging towards a very dangerous area which is that of the us trades of the high spread with the german bones which of course will look create an 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 and new bailout plan which is necessary to get the latest a billion euro loan the eurozone is demanding that the two main parties saya letter backing the debt deal but ya opposition says there is no need for a written pledge tollefson

a new prime minister and cabinet will resume on thursday and with it use financial troubles no closer to being resolved max kaiser and states herbert 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 the store the paper except this is all available immediately 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 a offers no definitive proof tehran is actually pursuing a bomb 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 artie's gun edge to can takes a look. washington and european and some european leaders would ideally want to impose crippling economic sense sanctions that would further isolate iran but we know that two of the permanent members of the un security council that is russia and china have made it clear that they don't want to cripple the uranium economy and that they say further isolating iran would be counterproductive and instead russia put 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 says they won't back off from developing nuclear technologies tensions are really high israel was hinting that they're 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 in 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 continues 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 evidence back in two thousand and three to make a case for the war in iraq it presented evidence that seemed so very solid at the time but turned out to be a hoax the question many now ask is could the un's atomic watched awkward poured serve as a justification to start a war with iran but security experts say the consequences to such action would be

catastrophic. and porting their iran embassador to the international atomic energy agency has told r.t. iran is as transparent as any country can be calling the latest report on its nuclear program politicized the issue portie is not professional and not bad with political motivation and under political pressure by the us and couple of the western countries this report has a fifteen pages of the allegations and the materials which were handed over only last week to us in the company should read the temp pages of the report of director general which says that all activities including a retirement are continuously on their to safeguard inspection the only second part which is the n.a.s. is about 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 b.z. the unannounced inspections this is great and we two months ago invited depicted director john by to even visit the r. and d. of scientific richmond 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 am report is to pave the way for a long planned military strike against iran. we now have and what which doesn't really say anything is no evidence and it is just some innuendo and washington will not spend this innuendo it to try to prepare the ground as they did with iraq kind of for a military attack based on nothing in fact the report status that there's no

evidence of any diversion of any nuclear material that there's some sort of hype about them working on a trigger for a nuclear bomb but everyone knows the ranch and not. enrich uranium to the extent necessary to make a bomb maybe 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 the rains have done nothing. and the americans are continuing to try i mean washington of course 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. well you can log on to our website r t dot com for plenty more stories including students taking to the streets of london are mastered by funding cuts and soaring tuition fees pay so

all police also an anonymous car group fallacy its next target will be the muslim brotherhood web site find out. when and why they say they're going to attack. in northern casa when nato peacekeepers have fired tear gas to affix serbs to seize one of the barricades set up months ago in an ongoing border dispute but the gains were short lived after a new road block was put up nearby fresh ask nick violence flared up soon after the incident was at least three serbs injured in a shootout with local afaik political analysts tell exam pottage believes there's a bigger picture behind me you know it's actions. they've been doing it for years now and they've broken their mandate actually they're doing the job of being in control government and 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 to the warring sides separated this is an aggressive show of force like an occupier is sort of the peacekeepers they're behind the crisis in greece they're behind the crisis in iran we're seeing right now is the sawing of the new world disorder and serbia is one of the flashpoints. let's now take a look at some other 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 the debris earlier rescue efforts dozens of buildings collapsed in the city of van as the tremor measuring five point seven magnitude struck it comes only a fortnight after another wake in the same region killed at least six hundred leaving many more home was. us police and riot gear have clashed with student protesters abby university of california berkeley after

they refused to dismantle their camp camps were wrecked the following a march against jewish and increases for students several activists have been arrested and some claim to have been beaten by police with the taunts the rally is part of by a wall street movement against economic inequality 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 today it comes a day after activists groups claimed around town 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 protest are terrorist organizations outside the country. those

who are provoking these developments want syria to go through a civil war particularly when you correctly define those forces i'll tell you. that religious extremists say leftists drug traffickers and smugglers they have been to provide you with up to date technology of communication. by the will 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 into the country from here kitty from labor known from iraq and all neighboring countries. what time now to explore another corner all the world's biggest country now russia close up series.

the russia's black sea coast isn't famed across the globe for its gourmet dining yet and some pioneers are trying to put their region on a world food map tom barker went to see local farmers struggle to get their delicacies on the russian as well as the global market. gourmet treats from russia's coast with these luxury free produces a 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 so we approached a company and arranged so million roubles for a start up it's a risky business with a storm capable of ruining

a year's work with animals 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 in oysters are currently very popular in russia in fact the efforts of these guys are unique here but the hoping to grow markets without underwater bounty are not the only ones hoping for a place on russian dinner tables. but this vinnie arden 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 curious that if we need three years to establish the vine then five years for a good product in a few years i hope we can produce great russian wines with you the climate and

weather a good for great grain here but yes is hesitant to try and make this into a proper business it's corruption that's putting him off yes martin or i look at a list like an artist painting a picture that 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 i'm not scared of people in authority are the ones who should be kept from power they do not respect our citizens the honest 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 here but he still loves the region. and hasn't given up hope of making it up to almost three years to there are some good great growing areas in russia this is a favorable area so if we will store to interfere we can promote all brand improve ours is as good as any french wine but. 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 . had a lot of business update us out thanks for joining me the moment of truth is almost here for russia to join the world trade organization laskas accession to the club will open new opportunities for foreign business in the country meaning domestic companies will face tougher competition however chris wafer from troika dialog says for most changes are not likely to come fast. i think some industries would love to see face competition immediately. and services insurance companies and other financial services companies would be able to establish fully domestic subsidiaries

and they're expecting to come in fairly quickly on the other hand if we go down to some of the consumer sectors and perhaps the manufacturing sector where prime minister putin is already said to be looking for a grace period to allow russian companies to adapt and to improve to 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. the markets asian markets. falls in the us markets plunged three percent wednesday dumpings. cost he's losing nearly three percent in hong kong. is down forty percent financial firms on exporters among the hardest hit. among major exporters over a five percent to. four point eight percent. markets are extending.

trading following poor performance in the us and asia losing one point eight percent and the wise it is down one and. most of the blue chips are trading in the red with. more than one and a half percent bankers losing around two percent the lender has reported a 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. who is trading today low as of best to speculate that recent gains were exaggerated prices a little change up to dropping for the first time in six days on wednesday concerns about iran's nuclear. power. plants believes the general sentiment remains. if we detach ourselves from the day to day price movements i think there are some of the trends there 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 governments seen europe to fund their own going to of it is the likelihood that some of them able to need lots of league asia so on a net basis i think those are going to impact the oil consumption and slow down the west's so much that actually is pushed by in the middle east could also potentially be seen as negative rather than us supposed to be a woman in crisis so i think on the whole right now we're looking down the road. it's i'm tired john pirelli plans to invest more than four hundred million euro to post presence in russia the company says it aims to become the country's second largest producer and went around twenty percent of the market and several years

already has agreed to buy two big plants of the european part of russia and wants to improve capacity to around ten million units a year and currently the company has less than two percent of the us unlock. so we have time for now but don't forget you can always find law stories just log on to our website. that's punch.

wealthy british science done. time to. market why not. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report. in the united kingdom is available in the house bill and the one who turned the old wave in her turn to get him closer to the mill stone who took some of the old country house. today in the build goldman turns the river and the creamy it used to feel the montague the tomb the little room the rubens photos.

welcome back you're watching our day here's a look at the top stories russia's odyssey to join the world trade organization is now closed today and after almost two decades moscow overcame the last hurdle on the way to its session by sealing a crucial customs agreement with georgia. it was borrowing costs hit a record high forcing the country to the brink of financial collapse and dragging on global markets down that's why the country's prime minister silvio berlusconi promising to resign as soon as all that approved yesterday measures demanded by the e.u. . and western powers pushed for fresh sanctions against iraq following the latest report on its alleged nuclear ambitions of russia rejecting the idea is counterproductive while tell ron insists.