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Ukraine's WTO Accession - Challenge for Domestic Economic Reforms (Paperback, Softcover reprint of the original 1st ed. 2004)
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Ukraine's WTO Accession - Challenge for Domestic Economic Reforms (Paperback, Softcover reprint of the original 1st ed. 2004)
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Lars Handrich German Advisory Group on Economic Reforms with the
Ukrainian Government 1 Ukraine on the way to WTO membership The
first announcements by Ukraine to join the World Trade Organisation
(WTO) were made in 1993. In the following year the Working group on
Ukraine's accession was established. But successive Ukrainian
governments had to sideline the issue of WTO accession, as the
country went through a decade of unprecedented and severe economic
decline. Only in the year 2000 the Ukrainian economy started to
achieve positive real economic growth. Since then Ukraine embarked
on a stable path of economic growth and continues to grow even
under conditions ofa sluggish world economy and protectionist
reflexes in some ofUkraine's export markets. According to the
macroeconomic forecast of the Institute for Economic Research and
Policy Consulting Ukrainian GDP will grow by 5,4% in 2003 in real
terms and by 5, I% 1 in 2004. For Ukraine WTO accession is of
special importance. Ukraine records an extremely high
exports-to-GDP ratio of over 60% - almost twice the ratio for
Germany.' The large ratio and the little diversified structure
ofUkraine's imports and exports make Ukraine seriously vulnerable
to external shocks resulting from changes in trade regimes. Joining
the WTO, trade among WTO members amounting to more then 90% of
world trade, could reduce the risks related to external trade and
Ukraine could derive substantial economic and hence welfare
benefits from the membership in WTO.
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