Ukraine achieves market economy status

By Aussiegirl

Ukraine took a big step towards the WTO and economic integration with western Europe when it was granted market economy status by the European Union. That's one more step away from Putin and Russia.

BBC NEWS | World | Europe | EU sees Ukraine as market economy

The European Union has granted Ukraine market economy status - seen as a key step to boost trade ties.
"Market economy status has now been granted," UK Prime Minister Tony Blair said in the Ukrainian capital Kiev.

Mr Blair and other EU leaders also backed Ukraine's bid to join the World Trade Organization.

This is the first summit between the EU and Ukraine since the Orange Revolution a year ago, which brought pro-Western President Viktor Yushchenko to power.

Mr Blair said that despite turbulence, reform in Ukraine was on course.

He said he hoped the Ukrainian people were in no doubt about the difference the last year had made in the way in which Ukraine was perceived in the world.

Mr Yushchenko described market economy status as a "huge step" for Ukraine.