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

 

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