News
2008/5/19
The Bleyzer Foundation Congratulates Ukraine on Gaining Membership in WTO.
On May 16th, Ukraine became the 152nd member of the World Trade Organization (WTO). The negotiations for Ukraine's accession to the WTO had lasted for almost 15 years. During that period, Ukraine introduced a number of structural and economic reforms, underwent transition from planned to market economy, signed 52 bilateral agreements with WTO members, and adopted more than 50 legislation acts required for WTO membership. The most significant breakthrough in the negotiation process was achieved during 2005-2007, when Ukraine received market economy status from the EU and the US and finalized negotiations with the major WTO members.
Ukrainian President Viktor Yushchenko and WTO Director-General Pascal Lamy signed the Protocol on Ukraine’s entry to the Marrakech agreement on the establishment of the WTO in Geneva on February 5th, 2008. The Ukrainian parliament ratified the WTO accession protocol by an overwhelming majority on April 10th. On April 16th, the government of Ukraine ratified the Protocol on Accession. According to the terms of the 8th clause, the Protocol was
enforced on May 16th, 2008.
WTO membership will provide the country with a sustainable and predictable trade environment and will give strong growth impetus to multilateral trade and investments. From the moment of accession to the WTO, Ukraine will enjoy improved terms of trade with 151 countries, which account for almost 95% of global trade. WTO membership will facilitate Ukraine’s European integration, as WTO entry was the main prerequisite for a free trade agreement with the EU.
SigmaBleyzer and The Bleyzer Foundation made a significant contribution through their expertise, consulting and research activities to steer the country in the direction towards WTO membership.