- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Ukraine will join WTO no later than Russia - PM

Subscribe
"Ukraine will join the WTO before or simultaneously with Russia, [but] not later in any event," a Ukrainian Internet publication quoted Yuriy Yekhanurov as saying.

KIEV, March 10 (RIA Novosti, Olga Bernatskaya) - Ukraine's prime minister said Friday that his country would join the World Trade Organization no later than Russia.

"Ukraine will join the WTO before or simultaneously with Russia, [but] not later in any event," a Ukrainian Internet publication quoted Yuriy Yekhanurov as saying. The premier earlier said that Ukraine might join the organization in 2006.

Yekhanurov said Ukraine had satisfied all the formalities linked to its bid to join the global trade body, but added that parliament had to pass four laws to accomplish the process. On Thursday, the premier urged Parliament Speaker Volodymyr Lytvyn to pass the remaining laws.

Ukraine has signed protocols with all WTO members, including with the United States in March 2006, on access to its commodities and services markets. In mid-February, the U.S. granted it market economy status. The EU declared Ukraine a market economy at the end of 2005.

Like Ukraine, Russia is seeking to join the WTO this year. However, Moscow's WTO negotiations with the U.S. have stalled over access to the Russian financial market.

Russian economics ministry and banking officials, including Economic Development and Trade Minister German Gref, have repeatedly said that admitting branches of foreign banks and insurance companies in Russia is a very sensitive issue given that Russia's banking system is unprepared to compete with foreign banks.

Gref said experts from the two countries would discuss those issues in early March, and then he and U.S. Trade Representative Robert Portman would hold a final discussion in late March or April.

On Wednesday, in a bid to normalize trade relations with Ukraine, the U.S. Congress repealed the Jackson-Vanik amendment for the former Soviet republic. The bill to lift the amendment to the 1974 Trade Act, which imposes sanctions on nations for failure to comply with freedom of emigration requirements, was earlier approved by the Senate, but is yet to be signed into law by the president.

The amendment, which restricted trade with the former Soviet Union, has been lifted for many of its former targets, but remains in force for Russia.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала