US to Grant Ukraine Market Economy Status by Year End

KIEV, Ukraine -- The United States is to grant Ukrainea market economy status by the end of the year, said Deputy Assistant Secretary of the US Commerce Department Eric Stewart Thursday.

At a press conference here, Stewart said that the US governmentis currently studying Ukraine's application for the status, which the United States is likely to grant at the end of the year.

Regarding the possibility of Ukraine's accession into the WorldTrade Organization (WTO), the official said that it largely depends on the progress of Ukrainian parliament's legislation.

Stewart positively evaluated some of the documents relating to Ukraine's WTO accession bid, which have been approved by Ukraine's parliament, especially the recently approved laws on the protection of intellectual property rights.

Earlier, Stewart also discussed with Ukrainian Prime Minister Yulia Tymoshenko issues on Ukraine's accession into the WTO and the expansion of trade cooperation with the United States.

Ukraine has stepped up its WTO accession bid since President Viktor Yushchenko 's election in January.

Yushchenko had secured US president George W. Bush's commitment to help his country with its WTO membership bid during his visit to the United States this April.

Source: Xinhua

Comments

Bix said…
I wish Ukraine the best of luck in seeking membership in the WTO. For sure a complex process with alot of technicalities. But trade is one of the best ways for international integration. Theory and history shows that everyone has something to trade. Lack of imagination and innovation is the only limit. Welcome to the brotherhood of trading nations!