one pm of the russian capital you're watching our team. now it's the out of a long journey for russia. is set to clear all the remaining hurdles from moscow's long awaited membership to the world trade organization argues 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 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 swiss analysts say

are always possible but unlikely the packets 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 sound businesses are celebrating their sash and others are preparing for a tough period of transition. more and while it will change and russia's economy 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 members should be eagerly anticipated not only by moscow but internationally for investors

especially those come from the european union are used to working on the regime for the person on the street membership will not be something we'll read about in the news but it will mean lower prices removing trade barriers between states increases competition prices of in florida goods and domestic companies. with foreign markets opening up. for workers of these. metallurgical company it all looks like a win win situation their most recent project is the north stream pipeline should they enter international markets they'll face very little competition. and this is raw say much the largest plant in russia's south producing harvested rushers it's a school for months ahead and workers who can spawn it. but the head of the company has a rather different outlook to that of the w t o cheerleaders. i will oil and gas

will be in demand even without entering the. agriculture. andrew culture 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 virus 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. that the us is the government's favorite child but not all car makers in russia are as cherished this used to be a thriving. open the 1930's most successful years what the fifty's and sixty's when hundreds of thousands of my screech cars flooded the soviet and poor and markets after the collapse of the soviet union creature was in desperate need

of money but the government could not as to loss making copper and must reach was. the only way to avoid the collapse of yet another industrial john expert say is to use the transition period of joining the w g a y z firstly entry to the w.t. doesn't mean you instantly have to drop all tires and comply straight away transit so-called transition period. roughly said. protectionist measures will apply for a number of sensitive industries which employ millions of people such as agriculture timber and comic but at a certain point the state's industrial dependence will have to live. and work on their own two feet in the world outside it but that should be a somewhat easier place to do business with a reduction of customs tariffs and trade barriers to a more level playing field across international markets.

we are always eager to know your take on the story and today we're asking who will benefit the most once russia is finally a member of the world trade organization stake a look at the site vote well this is how the opinions divided so far the majority of the respondents think nobody will win in this situation as the organization only adds to the big financial mass the world is already at twenty percent believe that moscow has access to well play into the w t o's hands while eighteen percent are sure that russia will suffer a rather than benefit because it will be unable to cope with the competition and finally almost three fifths 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 let us know what you saying by logging on to our team dot com. while there will be more news and opinion of course throughout the day here on our team as a working group session in geneva unfolds plus. in business here russia's accession

to the world trade organization will open new opportunities for business in the country we'll talk about the advantages and disadvantages of joining the w t o for russian companies. prime minister silvio berlusconi is facing his last few days in office as italy moves closer to the financial brink and bond rates hit emergency levels close to the level which forest greece portugal and ireland to ask for an bailout that sparked panic in global markets amid fears berlusconi successor won't be able to prevail in the euro zone's third largest economy from sinking r.t. sarah for three fourths. we've seen this year is a in crisis developed an unprecedented race and it's least being the latest country that has been sucked into the debt spiral for which there might be no it's the scene is boring polls because seven to stand up it's an extremely dangerous

territory now that's because most of that seven percent is the trigger point at which he's still countries such as ireland portugal and greece have to see an emergency from the usa and the i and then there's also the point at which investors start looking at the countries that with a big debt such as 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. company found that about one point eight trillion a year has to be a major problem though investors are also 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 still but at the moment that support is simply not in place a big fund the usa needs 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 i 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. policies are mostly responsible for it always economic problems a nasa view off policy and of development specialist power phone or. in the problems of each of the ease of course the book the major wall is growth the absence of growth which is imposed by the polish that you've repeatedly been the most good position. to handle the moment through the union. in the comics i think we edging towards a very dangerous area which is that some of the trades sprayed with the german bones which of course will look create an impossible situation in the

stock market effect of this would be the collapse of the system but this would create a culture in the country instead of the solution. italy may now be seen as the greatest threat to the eurozone but crisis veteran greece is still in turmoil power sharing talks have and heard there for the day 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 but the opposition says there is no need for a written pledge and with a new financial troubles now closer to be resolved max kaiser and stacy herbert provide their latest take on the situation in a kaiser report that's coming up later today. there's a fifty euro for all 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 house and tell your kids all about what happened in europe. you ask police in riot gear have clashed. student protests at the university of california berkeley after they refused to dismantle their camp towns where were active following a march see increases for students which was part of the broader occupy wall street movement several activists were arrested and one protester told r.t. some were indiscriminately beaten by police with the times police approached with full force with right gear and tons we don't want to move north of us through they used their batons to jab us in the stomach and they were hitting us with their

tongs going people to the floor and then hitting them with their night sleeps with their retirements as they're on the floor they were they were going to cross the line and arrest in the people that weren't doing anything they hit they hit me repeatedly on the arms on the torso in the stomach and they arrested more students and they eat the students. that were nonviolent peaceful protesters but they were extremely real in their attack with that with their sticks many people were injured i heard that one professor festers our university was protesting she's in the hospital. pay tuition we pay tuition that's rising every year for less services class size. and we decided it was time to take back our school and carrying out the momentum from the other occupy movements we thought this would be a good time. while the occupy wall street campaign against economic inequality has been sweeping the u.s. for weeks i will correspondents following developments from orange more tough

responses from police in other cities as well log on to our web page on twitter for more. the u.n. atomic watchdogs latest report on iran's alleged nuclear ambitions has split the international community the i.a.e.a. offers no definitive proof tehran is actually pursuing a bomb but its findings still prompted several countries to call for fresh sanctions that idea has already been rejected by the russians as sanctions might be used to force regime change in iran. takes a walk. washington and european some european leaders would ideally want to impose crippling economic 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's says they won't back off from developing nuclear technologies tensions are really high israel's was hinting that they're gearing towards a preemptive towards a preemptive strike washington say that 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 use the record 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 poort serve as a justification to start a war with iran but security experts say the consequences to such action would be catastrophic. reporting there at wiley rein ambassador to the international atomic energy agency has told r.t. iran as a parent as any country can be calling the latest report of its nuclear program politicized this you 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 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 just saved by inspection the only second part which is the n.a.s. is above the emetic an allegation the important thing is that we are particularly pretty all activities are on the. even of snapshot short visit analyses fiction this is great and we took months ago invited depicted director john viii to even visit the r. and d. of richmond can you give me any example that any respect or being permitted to any certainty in any other part of the war and paul craig roberts who worked in the ronald reagan's administration believes the purpose of the i.a.e.a. report is to pave the way for a long playing military strike against iran. we now have

a court which doesn't really say anything there's no evidence and that is just some innuendo and washington will spin this innuendo to try to prepare the ground as they did with the right. time for a military attack based on nothing in fact the report steps that there's no evidence of any of the birds in the bin in your material that there's some sort of hype about they're working on a trigger for a nuclear bomb but everyone knows the ranch and lot. in rich radio 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 blocked that deal so so they've really done nothing iranians have done nothing. and the americans are continuing to try i mean

washington course to create a pretext for a military attack on iran is part of the neo conservative agenda it's been part of the agenda forward what now what it does in yours. while log on to our website for plenty more stories including students taking to the streets of london mass to fight funding cuts soaring tuition fees facing a wall of police also. added imus hacker group it's next started will be the muslim brotherhood web site find out where i why they say they're going to attack. now let's take a look at some of the stories from around the world and an earthquake has hit eastern turkey killing at least seven people and leaving scores trapped in the rubble about twenty people however have been pulled from that are bringing in early

rescue efforts dozens of buildings collapsed in the city of van. tremor a measured five point seven magnitude struck comes only a fortnight after another quake in the same region killed at least six hundred leading man more homeless. israel's to bring core it has rejected former president moshe katsav appeal of gang rape conviction the ruling clears the way for him to serve a seven year term in prison for was convicted of two counts of rape and other charges last a sample but it was allowed to remain free while he launched an appeal. time now to explore another corner of the world's biggest country and our russia close up series.

while russia's black sea coast isn't famed across the globe for its gourmet dining yet some pioneers are trying to put the region on the world food map and when to see local farmers struggle to gather 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 muslim at least a farm in the area just off the black sea coast it's run by forex scientists need to study the region's marine life back in the u.s.s.r. . that point 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 a million roubles for a start up it's a risky business with a storm capable of ruining a year's work with them 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 the hoping to grow markets for the underwater bounty are not the only ones hoping for a place on the russian dinner table. but this bin 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 curious that we need three years to establish the vine in five years for a good product in a few years i hope we can produce great russian wines with your the climate and weather good for great growing here but yes is hesitant to try and make this into

a proper business it's corruption it's putting him off yes more throw a little less 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 i'm not scared of people in authority are the ones who should be. 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 it up to almost three years to there are some good great growing areas in russia this is a favorable area so if the with ortiz don't interfere we can from a top brand improve ours is as good as any french wine but preferred. 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 barton party. one brings us up to date here on r.t. us now take a look what's happening in business with karina. hello welcome to our business port on the south thanks for joining me the moment of truth truth is almost here for russia to join the world trade organization as the eighteen year talks have come to an end and i'm joined by jacob male from morgan stanley to tell us more about how business see the excess and hello to you renee could i thank you coming in for coming to the program so what will be accession to do to address the question to mean particularly poor foreign business come on business and foreign companies that they want to do business and it's a very it's a very complex impacts on the economy but i think you can summarize by saying you should see a surge of foreign investment particularly in business services in sectors that

have been protected or investors to feel uncertain about investing in in the future it should help some russian exporters increase their market share and it should have an impact on some prices for the prussian russian consumer which will benefit them so it's a broad based complex process unfolding over a number of years but it should have these beneficial impacts for russia we're talking about eighteen years of struggle to get into this glorious why you take so long what is things along for russia to get it will i think i think russia obviously is mainly a commodity exports over sixty percent of exports of oil and gas another nearly twenty percent of the commodities these commodities alt text are not subject to tariffs in other countries so it wasn't to me to be obvious i think to russia what the benefit was from joining the w t o and. i mean there wasn't much push but all to the crisis in two thousand and eight when all points collapsed and russia realized its vulnerability would it depend so heavily on commodity exports the

leadership decided that they wanted to push for further diversification of the economy and one way of doing that is to join the w t o which will help them to attract a wider range of investment and open up more markets. award for russian goods ok so which of the foreign companies you think would benefit first and foremost well i think it's going to be in business services it's going to be companies legal companies consultancy companies insurance my insurance banking but it's the sort of area that will benefit because they will feel more comfortable about entering the russian market and how soon will they see the benefits coming it's nor like turning a key in the engine starts saying it takes several years for the tariff cuts to come through it takes a while to change administrative practice is so i think we're looking at three to five years before you have the full impact of the accession but economists' of calculated there is a world bank study that people refer to

a lot that will add about four point three percent of g.d.p. to russia over the medium term most of that about three percent coming from this increase in investment in services and another one percent coming from increased in russian exports perhaps in the chemical and we're going to say we're looking at china's experience and joining the w t o it's you know i mean i think it's really been a catalyst for the change in attitude in russia because china joined the w two you know in two thousand and one and then you had a search nifty only in china in the years following that which helped to improve chinese productivity and growth and i think russia's hoping to use the as a catalyst for the same kind of process domestically well we know that russia has business with european companies what about the u.s. we still have this jackson bennett amendment that heroin repealed what does it mean for u.s. companies and u.s. business doing you know doing business in this place is a complicated connection between jackson verdict in the basically u.s.

companies don't benefit from the exception of russia from the lower tariffs and the improved administrative procedures until the u.s. congress repeals juxta bernick's so it creates a lot interest for appealing jackson verdict in the. yes but it's a matter for congress not the administration so promise it but i think that do is very likely to see a repeal of jackson verdict following russia's deputy accession but it has nothing to do with the excess and actually russia's accession to the obvious you know that russia will still exceed and it looks like with georgia's agreement with russia on this monitoring regime of the borders of self-assertive of course here that last serious obstacle to accession is going to head which is why we're expecting the ministerial the ministerial conference in december two to accept cation for its action and just a just a short question do you think russian companies would like being a members of the w.c. oh well you know gains from trade are slightly abstract thing and losers or was

very aware that they're going to lose and they will lobby against it so often the voices that cry loudest when you have trade negotiations are those who realize that they will lose out and those who gain the consumers the broader economy the companies of the future don't have a voice but i think in this case there is going to be a substantial positive benefit to russia as a whole and the leadership see the value of that for the diversification of the economy and who would lose who will lose your point of view or will i think that. in efficient industries in russia that competes against imports so people sometimes say food processing textiles sectors like that may construction materials may may face greater headwinds in future but russia needs more competition so actually on balance i think it's a good thing ok thank you jacob male t. for commas morgan stanley thanks very much for coming to the program thank you that's it for now more and fifty minutes trying to that.

well the mag you're watching r t a reminder of 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 accession by sealing a crucial customs agreement with georgia. italy's borrowing costs here a record high pushing the country to the brink of financial collapse and dragging global markets down that's despite the country's prime minister silvio berlusconi promising to resign as soon as polman approves the astaire the measures demanded by the e.u. . and student protesters in california on how he was rising tuition fees are met by riot squads brutally you will get their batons the clashes occurred as the police began dismantling the fam.