Saturday, July 19, 2008

Ukraine's WTO accession fostering talks with EU

Ukraine's presence in the WTO contributes to transition of the negotiation process with the EU to a new level, Deputy Economics Minister Valeriy Piatnytskyi told reporters.

"These are not the talks on concessions, this is formation of an integration plan," he said.

The deputy minister noted that Ukraine's WTO accession did not lead to considerable raise in tariffs and a 5-year transition period is created as regards the relevant services. Furthermore, negotiations have been launched with the European Union to create a free trade zone.

On 16 May 2008, the WTO welcomed Ukraine as its newest member.