Latvia is pleased to note the completion of Ukraine's WTO membership talks

Latvia is satisfied with the completion of talks on Ukraine's WTO membership, as this confirms that the economic policy implemented by Ukraine is founded on basic principles of international trade and will provide greater stability and predictability for the broadening of mutual trade relations.

Ukraine's WTO membership has been a precondition for initiating EU-Ukraine negotiations on the conclusion of a free trade agreement.

In Geneva on 25 January this year the last meeting of the WTO Working Party on the Accession of Ukraine adopted a draft Working Party report on market access schedules for goods and services, as well as a draft General Council decision on Ukraine's accession and a draft Protocol of Accession.

With this, Ukraine has in fact completed the WTO accession process and, following approval by the WTO General Council on 5 February this year, the procedure required for the ratification of the documents will be initiated by the Ukrainian Parliament. After its completion Ukraine will become a full WTO member, thus concluding an almost 15-year long process of accession negotiations, which has allowed Ukraine to implement reforms vital for the alignment of its foreign trade policies and the restructuring of its economic sectors so as to comply with the basic standards of present day world trade.

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