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New member
Ukraine becomes newest WTO member
VIENNA: Former soviet state Ukraine on Wednesday became a full member of the World Trade Organisation as WTO approved the accession terms of Ukraine, paving the way for the country's full membership.
The global trade body’s Director General, Pascal Lamy, and Ukrainian President Viktor Yushchenko signed the accession agreement at a meeting of the WTO’s General Council in Geneva.
Speaking to reporters here WTO Director General Lamy said, "”Ukraine's WTO membership will strengthen the multilateral trading system and provide this country with a stable and predictable trade environment that will boost its growth and prosperity.”
However, Ukraine's legislative body is set to ratify the agreement by July 4, and the country will become a full-fledged WTO member 30 days after the ratification.
Ukraine applied for WTO membership in 1993, and the accession negotiations were formally concluded on January this year.
VIENNA: Former soviet state Ukraine on Wednesday became a full member of the World Trade Organisation as WTO approved the accession terms of Ukraine, paving the way for the country's full membership.
The global trade body’s Director General, Pascal Lamy, and Ukrainian President Viktor Yushchenko signed the accession agreement at a meeting of the WTO’s General Council in Geneva.
Speaking to reporters here WTO Director General Lamy said, "”Ukraine's WTO membership will strengthen the multilateral trading system and provide this country with a stable and predictable trade environment that will boost its growth and prosperity.”
However, Ukraine's legislative body is set to ratify the agreement by July 4, and the country will become a full-fledged WTO member 30 days after the ratification.
Ukraine applied for WTO membership in 1993, and the accession negotiations were formally concluded on January this year.