The Economic Ministry announced yesterday that Ukraine would complete all bilateral talks for WTO ascension by May 2006. Economic Minister Arseniy Yatsenyuk added that the upcoming elections would have no effect on Ukraine’s WTO bid. According to Yatsenuyk bilateral agreements have for the most part already been worked out. Concorde Capital: We share Yatsenuyk’s optimism about Ukraine finishing bilateral talks, however saying they will be completed in the summer might be a safer bet. Agreeing on sugar import quotas with Australia seems to be the last major stumbling block. Ukraine’s WTO bid got a huge boost from the United States – by agreeing to let Ukraine enter the WTO and dropping the Jackson-Vanik act the US, has put Ukraine ahead of Russia in the two countries race for WTO membership. Several reports have suggested that Ukraine and Russia may enter the WTO together in the fall. This to a large extent depends on the will of the US, which still has several grievances with Russia concerning intellectual property rights, meat imports and energy exports. However, some experts have suggested that the US may agree to let Russia in for help with the Iranian nuclear problem. In any case, we do not believe that Ukraine or Russia are likely to be able to effect the other’s bid should one of them get in first as there will be too little time between both countries accessions.