
The European Union's official head of trading branch met Ukraine's leader on February 18 to begin conversation on a free trade agreement - a pact that would be a major boost to President of Ukraine Viktor Yushchenko's aim to introduce Ukraine more closely with the West.
Discussions between Yushchenko and EU Trade Commissioner Peter Mandelson reach Ukraine's recent accession to the World Trade Organization (WTO).
"It's a symbol of the EU's commitment to Ukraine that the ink is hardly dry on its WTO accession agreement and we right now here in Kyiv to build on that participation with a new stage in our economic relations," Mandelson noted.
After long termed period of negotiations, the EU cleared the way for Kyiv to join the WTO. At the beginning of February, Yushchenko signed an agreement on joining the global trading community after Ukraine guaranteed it would cut export duties on some raw materials.
The agreement has yet to be admitted by the parliament, which has been paralyzed for weeks amid tensions over Yushchenko's attempts at closer cooperation with NATO.
Yushchenko noted the start of discussion on EU Ukraine trade is "a landmark event" for this former Soviet country. He expressed his hope that a draft agreement could be ready for this September's planned EU Ukraine summit.
"We are searching for an agreement that is comprehensive, which is ambitious, which is deep," Mandelson said. "It will also provide help for Ukraine and will make it more attractive for investment to Ukrainian property for sale and open export possibilities," he also said, adding though that the process will be long and difficult.
The agreement would decrease the costs of EU imports for Ukrainian businesses and consumers, and offer the exSoviet republic better access to the EU internal market.
Earlier this year, President of Ukraine said the former Soviet state would do its utmost to help Russia also accede to the WTO, where the two countries would be able to find common rules and a neutral arbiter to deal with their sometimes tense trade relations over gas and other issues. |