MOSCOW - US President Barack Obama deems it "realistic" for Russia to join the World Trade Organization (WTO) by the end of this year, the Kremlin said Wednesday.

In a telephone conversation earlier in the day, Russian President Dmitry Medvedev and Obama discussed the process of the WTO accession negotiation, the Kremlin said in a statement.

They agreed that a substantial progress has been made during the talks thanks to the mutual efforts, and the goal of Russia to join the organization by the end of this year is "realistic," it said.

The two leaders also exchanged views on future steps to facilitate and coordinate the work concerning Russia's WTO accession.

Medvedev also conveyed to the US president good wishes for his upcoming 50th birthday on August 4.

In late July, Russia's WTO negotiator Maxim Medvedkov said the talks could be completed in mid-December.

Russia, which has been seeking WTO membership for the past 18 years, is the largest economy remaining outside the global trade organization.