EU and Ukraine near agreement on 2007 quota rise

Ukrainian sources, quoting the European Union (EU) representative in Ukraine, report that the EU and Ukraine intend to agree on an EU steel quota rise for the Ukraine, up from 1.04 million metric tons to 1.32 million metric tons. According to a statement issued by the EU representative in Ukraine on January 19, the concerned parties have initiated a bilateral agreement regarding the steel trade in 2007. Accordingly, the EU intends to raise its 2007 steel quota allocated to Ukraine due to the accessions of Romania and Bulgaria to the EU. In addition, the removal of the quota regime has been proposed for two kinds of steel products exported by Ukraine to the EU. The agreement is expected to be enforced in May 2007.