Ukraine and the European Union have completed their negotiations regarding Ukraine's scrap export duty and other unresolved issues, thus clearing the way for the country's accession to the World Trade Organization (WTO).
At a meeting held in London last Wednesday, EU Trade Commissioner Peter Mandelson and the Ukrainian Vice Prime Minister Hryhoriy Nemyrya agreed on the final terms of the accession agreement.
The EU completed the majority of its negotiations with Ukraine in 2003, leaving the issue of export duties on some raw materials, including scrap, unresolved.
Regarding the issue of Ukraine's export duty on scrap, the EU had insisted on the complete abolishment of the duty from the moment Ukraine would enter the WTO.
During the latest talks, Ukraine managed to preserve its right to introduce a quota for scrap exports in case a crisis should arise in the Ukrainian domestic steel market, though without implementing any export duty on scrap.
The EU was the last partner with which the Ukraine had to sign its WTO accession treaty.