UKRAINE: Textile trade agreement with EU extended till 2007

KIEV: The textile trade goods agreement to facilitate preservation of Ukrainian textile exporters' free access to the European market has been extended till 2007.
The announcement was made by the cabinet of ministers’ secretariat's department of communications with authorities and the public.
Further, the quota-free regime for trade in textile goods remains in force as agreement abolishes the double inspection of Ukrainian exports to the European Union.

The export volume of textile goods to the European Union was US$ 476.4 million in the first eight months of 2006, which is 80 percent of the total volume of textile exports from Ukraine; whereas volume of imports in the first eight months of the year was US$ 465.8 million.

However, the agreement will automatically terminate if Ukraine joins the World Trade Organisation before the agreement expires.

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Added: December 9, 2006 Source: Agencies
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