Ukraine has become a member state of the World Trade Organization.
According to experts, the accumulated influence on the branches of national economy will have a positive character, the Economy Ministry reported.
Upon Ukraine's accession to the WTO, the country has such privileges as receiving a regime of the greatest assistance in the trade area of all WTO member states, in other words, the simultaneous improvement of trade conditions with 151 countries covering 95% of the global trade; decreasing tariff and non-tariff barriers on the access of Ukrainian goods to the trade markets of WTO member states; receiving the possibility of defending the interests of Ukrainian producers according to the procedures for considering trade disputes by the World Trade Organization; gaining the official status of a negotiating process on the creation of a free trade area with the European Union; canceling quotas on the export of Ukrainian metallurgy products to the EU; the access to cheaper utilities, equipment and raw materials; ensuring the non-discriminatory transit of goods and services.
In all, according to experts, Ukraine's accession to the World Trade Organization will stipulate for additional pace of GDP to 2%.
Ukraine submitted a bid to join the World Trade Organization on November 30, 1993. During this period, bilateral talks were held with the leadership of 50 countries.
A protocol on the country's accession to the organization was signed in Geneva on February 5, 2008. Ukrainian President Viktor Yushchenko signed a law on the ratification of a protocol on Ukraine's accession to the WTO on April 16, 2008.
