UNITED STATES AND UKRAINE ENTER INTO TRADE AND INVESTMENT COOPERATION AGREEMENT

Earlier this month, the Office of the U.S. Trade Representative announced that the United States and the Ukraine entered into a Trade and Investment Cooperation Agreement (TICA).

The U.S.-Ukraine TICA establishes a forum to develop greater trade and investment relations between the two countries. The TICA also provides for the formation of a joint U.S.-Ukraine Council on Trade and Investment, which will address issues such as market access, labor and environment, and intellectual property protection.

Trade in industrial goods between the United States and the Ukraine approximated $2.6 billion in 2007. U.S. foreign direct investment in the former Soviet republic stood at $1.44 billion at the end of last year.

In February, the World Trade Organization (WTO) approved the terms of the Ukraine's accession into the WTO. The Ukraine will become an official WTO member 30 days after the Ukrainian Parliament ratifies the accession protocol. Country and trade analysts expect WTO ratification to occur before July 2007.

6^th Update

April 15, 2008