Alla Borisenkova said that most of the remaining sticking points on the issue had been resolved in a meeting between Economic Development and Trade Minister German Gref and his Australian counterpart Mark Vaile.
Delegations from the two countries will continue negotiating January 28-29, the final two days of the World Economic Forum Annual Meeting in Davos, Switzerland, where corporate and political leaders have been meeting since Wednesday.
"It is possible that after this round a final protocol will be signed on the conclusion of bilateral negotiations on Russia's WTO entry," Borisenkova said.
If Russia concludes talks with Australia, there will remain only two out of the 58 countries included in the Working Party for Russia's WTO bid that have not concluded bilateral talks: Columbia and the U.S.
Russia and Switzerland completed accession talks and signed an agreement earlier Friday.
The agreement was signed by Gref and the chief of the Swiss Federal Department of Economic Affairs, Joseph Deiss.
On Thursday, Gref met with U.S. Trade Representative Rob Portman, but the sides failed to reach a final agreement.
"The main question that remains on the agenda is financial services," Gref said.
The United States has insisted that American banks and insurance companies be given access to Russia's financial services market as a condition for Russia's WTO membership. Russia said access to its financial services would create unequal competitive conditions for Russian and other foreign companies currently operating in the country.
