More than 1,000 protest Russia's entry into WTO

July 1, 2012 - 11:06 AM

MOSCOW (AP) — More than 1,000 people waving communist and imperial flags have protested in central Moscow against Russia's upcoming entry into the World Trade Organization.

Russia's parliament is expected to vote July 10 to ratify the agreement on WTO membership, which took nearly two decades to negotiate.

Once Russia joins WTO, it will be subject to its rules for global trade and settling disputes. European Union and U.S. officials predict it will lead to greater exports to Russia.

The organizers of Sunday's protest say the result of WTO membership will be the collapse of tens of thousands of Russian factories and the loss of tens of millions of jobs.

Supporters of WTO membership say it will boost Russia's economy in the long run by giving more confidence to foreign investors.