The European Union and Ukraine launched talks on a bilateral free trade agreement last week following the approval of Ukraine’s bid to join the WTO earlier this month. Ukrainian President Viktor Yushchenko said he hopes to conclude negotiations by the end of the year. A European Commission press release notes that Ukraine is currently the EU’s 25th largest export market and the EU is Ukraine’s leading trade partner. Two-way trade has been growing steadily in recent years, the press release states, and exceeded €26 billion in 2006. Ukrainian exports to the EU consist mainly of basic commodities like metal, energy, agricultural products and chemicals, while major EU exports to Ukraine include machinery, chemicals and transport equipment.
World Trade/Interactive
