Financial Times FT.com

Kiev’s WTO step to loosen Russia grip

By Roman Olearchyk in Kiev and Frances Williams in Geneva

Published: February 5 2008 17:30 | Last updated: February 6 2008 01:03

After 14 gruelling years of negotiations, the World Trade Organisation on Tuesday gave the green light for Ukraine to join the 151-member body, a key step in Kiev’s effort to reduce Moscow’s grip on the ex-Soviet economy and move it further towards the European Union and the west.

In a sign of the importance accorded to WTO membership, Victor Yushchenko, Ukraine’s president, travelled to Geneva to sign the accession documents in person. Ukraine will formally join the world trade watchdog once parliament has ratified the membership deal, which it must normally do within six months.

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