WTO to help Ukraine settle disputes with Russia
Ukraine will turn to the World Trade Organization (WTO) over the settlement of trade disputes with Russia, according to the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine.
"Since Ukraine and Russia are members of the World Trade Organization(WTO), settlement of disputes between the two countries will take place according to the rules of the organization," the newspaper writes.
In addition, as noted by Minister of Economic Development and Trade Minister Ihor Prasolov, other options are also possible: the parties may apply to the economic court of the Commonwealth of Independent States, where they are members, and reach an understanding during expert consultations.
Ukraine is in the final stage of preparation for the signing of the Association Agreement with the European Union. Therefore, the government seeks to regulate trade relations with Russia to resume their positive pace.
The Ukrainian government's position is that these two associations should not be opposed, but it is necessary to harmonize trade regimes, which they set to their members. In fact, all the three parties, Ukraine, Russia and the European Union, are interested in expanding mutual economic contacts.
The ministry hopes to enhance trade not only in the framework of a free trade area with the European Union, which Ukraine will join soon, but also within a CIS free trade area, with which our country has developed cooperation.
Adaptad from Ukrinform
More on the topic
- 19.12.2013 Russia to buy $15bln in Ukrainian bonds
- 18.12.2013 Putin: Russia could use defense capacities of Ukraine
- 18.12.2013 Putin: Moscow, Kyiv did not discuss Ukraine's accession to Customs Union
- 16.12.2013 Medvedev urges Ukraine to overcome "tectonic split"
- 29.11.2013 State Duma wants new strategic partnership deal between Russia, Ukraine
- 06.11.2013 Russian business sees benefits from Ukraine's association with EU
- 01.11.2013 Ukraine to demand introduction of transition period for making foreign passports to travel to Russia - MFA
- 16.10.2013 Russia suggests analyzing jointly all possible risks through signing the Association Agreement between Ukraine and EU
- 02.10.2013 Russia refuses Ukrainian wagons
- 27.09.2013 Ukraine, Russia will continue discussions on joint production of AN-124 Ruslan in October
- 10.09.2013 Russia refuses to use Ukrainian Nitka naval pilot training site
- 06.09.2013 Sberbank of Russia wants to raise panic in Ukraine with its forecasts, analyst says