STATEMENT BY U.S. TRADE REPRESENTATIVE SUSAN C. SCHWAB ON WTO MEMBERS' APPROVAL OF UKRAINE'S TERMS OF ACCESSION TO THE WORLD TRADE ORGANIZATION

WASHINGTON – U.S. Trade Representative Susan C. Schwab today welcomed WTO Members’ approval of Ukraine’s accession to the World Trade Organization with the following statement:

“The United States is very pleased by today’s action in Geneva. We look forward to the timely completion of the domestic ratification procedures and to Ukraine’s taking its seat at the WTO. The presence of President Yushchenko, who signed Ukraine’s Protocol of Accession, underlined the importance of this WTO action.

“The terms of accession are substantial, forward-looking, and demonstrate Ukraine’s commitment to global trade based on market forces, transparency, and rule of law. Since its initiation over a decade ago, Ukraine’s economic reform program under a series of governments has included a strong commitment to WTO provisions. Ukraine's commitment throughout the negotiations to secure effective implementation of its WTO commitments is commendable.

“The accession package approved today clearly reflects Ukraine’s intentions to pursue liberalized trade, deregulation and expanded transparency. For the United States, the inclusion in the WTO of such a large, fast-growing economy will benefit U.S. businesses, workers, farmers, ranchers, and consumers. We look forward to building a broader, deeper trade and investment relationship with Ukraine. We also welcome the stability and efficiency that will accrue following the Supreme Rada’s acceptance and ratification of the accession. Today we celebrate Ukraine’s WTO accession and this new chapter in our trade relations.”