Vietnam and Ukraine ink WTO admission accord



Vietnam and Ukraine signed an agreement regarding the latter's accession to the World Trade Organisation (WTO) in Hanoi on November 14.

The signatories were Deputy Minister of Industry and Trade Le Danh Vinh, Chairman of the Vietnamese Sub-committee of the Vietnam-Ukraine Inter-governmental Committee, and Ukrainian Ambassador to Vietnam Pavlo Sultansky.

Under the agreement, Vietnam and Ukraine recognise each other's full market economy status. Ukraine pledges to cut import tariffs on a number of Vietnamese products, including many of its major hard currency earners.

Ukraine is also committed to implementing fully and immediately WTO agreements, including the General Agreement on Trade in Services (GATS), the Agreement on Technical Barriers to Trade (TBT), and the Agreement on the Application of Sanitary and Phytosanitary Measures from the moment it joins the WTO.

Vietnam officially became the 150th member of the WTO on January 11, 2007 .