President praises Ukraine’s WTO gains

At a press conference in Kyiv, Victor Yushchenko described Ukraine’s recent achievements to join the WTO as “the greatest changes in trade policy of our country over the years of independence,” President's press office informs.

He reiterated that the United States had eventually repealed the Jackson-Vanik amendment. Ukraine was also recognized as market economy and signed a market access agreement with the United States, he continued.

The President said the repeal of the amendment would help Ukraine sell metals, chemicals and coal in the US. Experts estimate the annual turnover rate at USD 200 mln. The signed agreement would also boost Ukraine’s export, making it grow to USD 500-600 mln.

The Head of State opined that, as market economy, Ukraine would enjoy free trade rules and “regain advantages it lost in the 1990s.”

The market status will also protect the country against billion-dollar anti-dumping sanctions, he remarked.

Yushchenko said he was happy Ukraine had signed a bilateral protocol with China. He believes it will help us build new trade relations with this country.