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Ukraine lessens its participation in Common Economic Space

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KIEV, July 28 (RIA Novosti) - Ukraine's participation in the Common Economic Space (CES) must not obstruct its accession to the World Trade Organization (WTO), a Ukrainian Foreign Ministry statement said.

According to the statement, Ukraine's participation in the CES is with the goal of forming an unrestricted economic zone that will promote trade and economic cooperation and allow for increased Ukrainian exports to the participating countries. The CES includes Belarus, Kazakhstan, Russia, and Ukraine.

The agreement on the participation of Ukraine in the CES states in particular that Ukraine will participate in the CES only within the framework of the country's constitution.

"The concept of Ukraine's further participation in the CES must rest on cooperation, which is aligned with the country's course toward European and Euro-Atlantic integration and does not obstruct Ukraine's accession to the WTO," the statement said.

Ukraine sees its participation in the CES as a way to promote trade and economic cooperation and to reach the level of EU member states, with the eventual hope of membership in this organization, a source in the Ukrainian Foreign Ministry said.

The Ukrainian Foreign Ministry's statement was issued before the 22nd session of the high-level group on the formation of the CES, which is scheduled to meet Friday in Minsk, Belarus. The session will review documents concerning the formation of a free economic trade zone.

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