Ukraine marks ten years of WTO membership

UkrInform 3
Ukraine marks ten years of WTO membership
Ukraine marks ten years since gaining full membership in the World Trade Organization (WTO).

"Today, May 16, marks the 10th anniversary of Ukraine's full membership in the World Trade Organization, which became the result of over 14 years of hard and persistent work of a large team of negotiators," the press service of the Economic Development and Trade Ministry of Ukraine reports.

First Deputy Prime Minister and Economic Development and Trade Minister of Ukraine Stepan Kubiv noted that membership in the WTO became for Ukraine an important and systemic factor in ensuring the further development of the state and gave impetus to structural changes in the country's economy, in particular, by adapting its legislation to the world rules.

As noted, the accession to the WTO agreements expanded the opportunities for business development and created a number of advantages for it. Among them: improving the regulatory environment, simplifying foreign trade procedures, access to foreign markets of goods and services, reducing the cost of imported raw materials and intermediate products used for own production, leveling the rules of the game for small and large businesses, simplifying certification and standardization procedures, solving current trade problems and disputable issues in bilateral and multilateral format and so on.