Ukraine Clears Final Hurdle To WTO

MOSCOW, Russia -- The European Union said Thursday that it had cleared the final hurdles in talks about Ukraine's accession to the World Trade Organization after Kiev agreed to a deal on the duties it applies to exports.

EU Trade Commissioner Peter Mandelson
Ukraine is the biggest country besides Russia and Iran outside the 151-member WTO, which oversees global trade.

At a meeting in London late Wednesday, EU Trade Commissioner Peter Mandelson and Ukrainian Deputy Prime Minister Hryhoriy Nemyrya "sealed the final terms of the agreement" clearing the way for Ukraine's entry into the WTO, Mandelson said in a statement.

The EU was the last trade partner to have reservations about Ukraine's WTO membership.

"Today's agreement clears the way for Ukraine fully to join the world trading system," Mandelson said. "This is the first step toward greater Ukrainian integration with the global and the European economy."

He said the EU would soon begin negotiations for "a comprehensive free trade agreement with Ukraine."

Chile's WTO ambassador, Mario Matus, who chairs the working party on Ukraine's accession, said earlier this month that he hoped to have a meeting of WTO members in the second half of January to finalize the accession package, provided the export duty issue was resolved.

Source: Moscow Times