Russia has finally joined the World Trade Organization (WTO) at a ceremony in Switzerland on Friday, after 18 years negotiating its membership.

The Swiss brokered a deal between Russia and Georgia earlier this year that removed the last obstacle to Russia's accession.

Georgia had tried to block Russia's WTO entry since the two countries fought a short war in 2008.

Russia was by far the biggest economy yet to join the global trade body.

It is also the last member of the Group of 20 major economies to join, after China gained membership in 2001.

"This result of long and complex talks is good both for Russia and for our future partners," President Dmitry Medvedev said in a message to a WTO ministerial meeting in Geneva that formally approved Russia's membership.