Ukraine Agrees To Integrate Into CEA At Its Own Pace.

Over the weekend, Ukraine, Russia, Belarus and Kazakhstan agreed to create a Common Economic Area.  Ukraine agreed to participate in the development of a free trade zone, but refused to take part in the creation of a customs union until all the group?s members join the World Trade Organization. According to Ukraine?s Economic Minister Serhii Teriokhin, it is unrealistic for the countries to establish a common customs tariff before they have finished negotiations with the WTO. Concorde Capital: Despite predictions of a conflict at last weekend?s summit of CIS leaders, the event seems to have gone smoothly. Ukraine?s policymakers may have scored the biggest victory at the summit by joining the CEA, but retaining their right to participate at any level they feel comfortable with.