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. Last Updated: 07/27/2016

Russia to Sign Limited Pact with OECD

PARIS -- Russia and the Organization for Economic Cooperation and Development, or OECD, are set to sign a basic cooperation deal on June 8, the second day of the economic forum's two-day ministerial meeting. "It is being signed on June 8," a diplomat said Tuesday, confirming a newspaper report. "But it will be a limited agreement to help it put economic reform into place." He said Russia's Foreign Minister, Andrei Kozyrev, is expected to sign the agreement with the 25-nation group. But he will not take part in the OECD's ministerial talks. The question of whether to welcome new members into what has long been a club for the world's richest nations will be high up on the agenda of the talks. Last week Mexico officially became the first new member of the 33-year-old group since 1973. South Korea and the OECD-termed partners in transition -- Hungary, Poland, the Czech Republic and Slovakia -- are also queuing up to join.