Ukraine Will Receive Market Economy Status By December - EU

Europe Union Commissioner Benita Ferroro-Waldner said yesterday she believes Ukraine will receive market economy status before the EU-Ukraine Summit in Kyiv on December 1. The EU Commissioner added that Ukraine had done everything necessary to obtain market economy status. According to Ferroro-Waldner, the EU also plans to open negotiations on simplifying the visa regime between the EU and Ukraine before the December summit. Referring to entering the WTO and NATO, she said it was important that the EU show Ukrainians how important it was that their country make these steps. Concorde Capital: This is certainly good news for President Yushchenko, as gaining market economy status is the first step of his four-part plan to open a free trade zone with the Europe Union, which he said he hopes to complete by the end of 2006. In addition, the EU?s announcement comes on the back of an announcement by NATO, which earlier this week said it would begin grooming Ukraine for membership and help the country make necessary reforms to its military.