BREAKING NEWS

Ukraine closer to Europe market-wise

Ukraine closer to Europe market-wise
Euronews logo
Text size Aa Aa

In a move predicted to improve trade relations and draw Ukraine closer to the European mainstream: the European Union has recognised the ex-Soviet state as a market economy. Prime Minister Tony Blair of the current EU president Britain and Ukraine’s President Viktor Yushchenko signed the papers at a special gathering in Kiev.

The EU is Ukraine’s largest trade partner, with a turnover of around 20 billion euros per year. European Commission President Jose Manuel Barroso announced the decision:

“The future of Ukraine is in Europe and now we are building that future with concrete steps : market economy status today, accession to the WTO, possibility of a free trade agreement.”

The major steel producer shares a border with four countries in the enlarged EU. The pro-Western president in Kiev has kept membership in the EU and NATO his main reform focus, in spite of a turbulent first year in office. In November he celebrated the first anniversary of his 2004 election win, assisted by a wave of “Orange Revolution” protests against poll fraud by the Moscow-oriented former regime.

Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.