Dec. 13 (Bloomberg) -- Ukraine, which has sought to join the World Trade Organization since 1997, moved closer to its goal with parliamentary approval of the final laws needed for membership.
Lawmakers today approved a law on export tax for different kinds of steel, clearing the way for the former Soviet republic to join as soon as the WTO approves its bid.
Ukraine, a former Soviet republic, is seeking membership in the Geneva-based trade bloc to improve access to new markets and help sustain economic growth. It missed last year's deadline over disputes between the government and parliament.
“Our working group will leave for Geneva tomorrow to meet with WTO officials,” said Oleksandr Shlapak, the head of the economy and social department in the president's office, today at a press conference in Kiev. “We think we will have a round of talks in January and we will wait for an official invitation in February.”
President Viktor Yushchenko, who took office in 2004 in the Orange Revolution and has sought to forge closer ties with the WTO and the European Union, has repeatedly urged parliament to adopt all the laws as soon as possible.

“Good Chance”

If the trade group accepts the Ukrainian bid, the country ``stands a good chance of finally completing its journey to the WTO in February 2007 during the WTO General Council meeting,'' Kiev-based largest brokerage Dragon Capital said in an e-mailed note today. Dragon Capital expects Ukraine to `` experience the first major effects of the accession in 2008.''
Ukraine's $89 billion economy may expend as much as 7 percent in all of 2006, compared with 2.6 percent a year ago, the Economy Ministry said. The country's economy will probably be worth $104 billion by the end of the year measured by nominal gross domestic product, Shlapak said today.
Ukraine, which had a trade surplus from 1998 to 2004, recorded a $4.6 billion trade deficit in the first ten months of this year. The Economy Ministry expects a $163 million trade surplus in 2007.
The EU said on Sept. 14 it will work toward a free trade agreement with Ukraine only after the county joins the WTO.