Yanukovich: WTO Questions To Be Solved, Capital Markets To Be Supported

At the World Economic Forum, in Davos Switzerland last week, Prime Minister Viktor Yanukovich said that his government would solve the final three legal issues preventing Ukraine from joining the WTO in 1Q07. According to Yanukovich, before Ukraine can complete ascension into the WTO, the country needs to reach agreements with the United States concerning meat imports and grain exports and sign a bi-lateral trade agreement with Kyrgyzstan. Yanukovich also highlighted his government’s interest in developing capital markets in Ukraine as a means to boost foreign investment.  The PM noted that this sphere of development had long been overlooked, and his government had plans to pass laws to improve corporate governance and guarantee minority shareholder rights. Nick Piazza: Ukraine seems well on its way to getting WTO membership wrapped up this summer. Ukraine has already signed a bi-lateral deal with the US, and now needs only to agree on a timeframe for the implementation of these new meat and grain quotas. With Kyrgyzstan, negotiations have stalled over a disputed debt the Kyrgyz claim Ukraine owes them. Yanukovich’s sidebar about corporate governance might mean that the government is going to try to meet Yushchenko’s demands  in terms of passing a law lowering quorum as part of a package of laws boosting corporate governance and minority rights.