Summary:

This paper, in its first part, provides the general overview to the Worl Trade Organization, including the brief commentary on its fundamental principles and the process of becoming a member of the WTO. However the key intention of the paper is to analyze the Russia‘s accession to this organization, to present the reasons for such a long period for the process of its accession, and to mention the benefits that will be brought to the world economy and to the Russian economy by its membership in the WTO.