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Ukraine to join the WTO.

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6 February 2008

Ukraine to Join the WTO I welcome the completion of negotiations for Ukraine to join the World Trade Organization (WTO).

After 14 years of negotiations, WTO Members yesterday approved Ukraine’s accession to the organisation.

The accession was approved on terms which will mean better access to the Ukrainian market for Australian companies.

Products where trade barriers will be reduced include meat, dairy, sugar, wool and mineral products. In addition, Australian service providers - including in the fields of telecommunications, mining and professional services - will have better access to the Ukrainian market.

Ukraine has also agreed not to subsidise agricultural exports.

Ukraine’s accession is an example of the benefits the WTO delivers to Australia.

The only step now remaining for Ukraine to become a member of the WTO is for its Parliament to finalise its domestic ratification procedure.

Ukraine’s commitment to open its trade regime will accelerate its integration into the global economy.

Australia’s trade relationship with Ukraine is modest but growing, with two-way merchandise trade reaching A$121 million in 2006-7. Ukraine’s WTO accession will facilitate the further strengthening of our bilateral trade relationship.

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