At a meeting in London, EU Trade Commissioner Peter Mandelson and Ukrainian Vice Prime Minister Hryhoriy Nemyrya "sealed the final terms of the agreement", according to a Commission statement on 17 January.
After Russia and Iran, Ukraine is the third-largest country still to remain outside the trade organisation. Ukraine's accession will be put to a vote at the WTO General Council in Geneva on 5 February. The country will be able to join as soon as all WTO members have approved the terms of its accession and the agreements have been ratified.
"Today's agreement clears the way for Ukraine to fully join the world trading system," Mandelson said. "This is the first step towards greater Ukrainian integration with the global and the European economy."
Outstanding issues included the question of export duties on products such as seeds, live animals, hides and skins as well as certain scrap metals. Ukraine agreed to start lowering export duties for these products, which is expected to take 6-8 years, according to a Commission spokesperson.
Speaking to EurActiv, Commissioner Mandelson's spokesperson Peter Power said that this could happen as soon as 2008. He said he would be "surprised" if Ukraine did not manage to join this year.
Ukraine's WTO membership will also pave the way for a "new Enhanced Agreement" with the EU, which would include a free-trade area and increased energy co-operation. The Union is currently both Ukraine's largest trading partner and largest market, with 25% of its exports (worth €8.7 billion) going to the bloc. Meanwhile, 42% of its imports (worth €17.8 billion) come from the EU.
