Ukraine Could Join WTO in November

MOSCOW, Russia -- Ukraine should do its best to become a member of the World Trade Organization in November 2005, Ukrainian President Viktor Yushchenko told a meeting of the Ukraine’s National Security and Defense Council yesterday. He stressed that the issue should be considered at a meeting of the council.

According to Yushchenko, Ukraine’s steps paving the way for WTO accession implemented before May 2005 are rated optimistically. “We have all reasons to believe that Ukraine has good chances to become a WTO member,” Yushchenko was cited as saying by the press department of his office. Yushchenko also stressed that the recent crisis on the Ukrainian petrochemicals market had entailed anxiety of Ukrainian partners, including the WTO.



Yushchenko said that the National Security and Defense Council should also consider the current situation on the energy market including the petrochemical one. “I believe this issue relates to national security at the moment. Finding out a wise response, we will retain market stabilization, and not only for the petrochemical market, in 2005,” he added.

Yushchenko has also stressed that Ukraine should work out an exact position on principles for holding talks within the frameworks of forming the common economic area and determine the projects in which it will participate. Earlier Ukrainian authorities announced a simpler task – to joint the WTO in 2005. The term has been cut as it hopes to be granted WTO accession by November 2005. Experts believe that Ukraine joining the WTO will result in new difficulties for Russia also seeking WTO accession.

Yesterday, head of the trade negotiations department of the Russian Economic Development and Trade Ministry Maxim Medvedkov expressed his opinion that delays in Russia joining the WTO would result in a rising stake for Russia, which seeks accession to the organization, as the rules of the game could change, among other reasons, due to new members such as Ukraine. This means that Russia will face new requirements, he stressed.

Source: Ross Business Consulting