Thursday, June 15, 2006

Ukraine Completes WTO Talks With Taiwan

GENEVA, June 15, CNA

Ukraine has completed bilateral talks with Taiwan to pave the way for the Eastern European country's accession to the World Trade Organization (WTO), a Ukraine official said Thursday.

The announcement was made by Valeriy Pyatnytskiy, deputy minister of economy of Ukraine, while reporting to a WTO working group considering Ukraine's application on WTO entry.

A total of 50 WTO member nations have requested talks with Ukraine, and Taiwan is the 49th country that has completed talks with the Eastern European state.

Three rounds of bilateral talks have been held between Taiwan and Ukraine. In addition to economic and trade issues, Taiwan has expressed concern during the talks over the Ukrainian government's rejection of ROC passports printed with the word "Taiwan" on their cover. Ukraine has dealt with the problem at the request of Taiwan.

According to official statistics from Taiwan, bilateral trade between Taiwan and Ukraine was valued at US$257 million in 2005, down 41 per cent from the year-earlier level, with Taiwan posting a trade deficit of US$12 million with the country.

Imports to Taiwan from Ukraine amounted to US$135 million, down 60 per cent over the previous year, while exports to Ukraine amounted to US$123 million, up 28.41 per cent over the previous year.

During the first three months of 2006, exports from Taiwan to Ukraine increased significantly from US$15.2 million to US$31.93 million, marking an increase of 108 per cent.

Taiwan's exports to Ukraine are mainly machinery, textiles, consumer electronic products and consumer products. Major imports from Ukraine include aluminium, iron, steel, zinc and cotton.

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