The United States of America has recognized Ukraine as a country with a market economy.

This was reported to UNIAN by the law firm "Mahistr & Partners."

According to the decision, Ukraine is considered a country with a market economy starting from February 1, 2006.

Previously, the decision was expected on January 23, 2006, however, due to the appointment of a new US Deputy Secretary of Commerce, the deadline for adoption was extended.

Ukraine's receipt of market economy status, the report notes, will have a positive effect for all Ukrainian companies conducting foreign economic activity in the US.

First of all, this will make the application of anti-dumping measures against products from Ukraine more difficult, and the investigation process much more transparent.

In addition, Ukrainian enterprises will have the opportunity to request a review in the US of existing anti-dumping measures on their products.

And finally, other countries that still do not consider Ukraine a country with a market economy, for example, Mexico, will most likely also change their position on this issue, the report notes.

Back in 2001, lawyers from the firm "Mahistr & Partners" initiated the process of recognizing Ukraine as a country with a market economy in the US for the purposes of trade investigations.

In April of last year, Ukraine and the US stated that they would accelerate the process of bilateral negotiations on Ukraine's accession to the World Trade Organization in 2005.

Also, the US intends to sign a bilateral protocol with the Ukrainian government on mutual access to markets for goods and services within a few weeks.

This was discussed at a meeting of First Vice Prime Minister Stanislav Stashevsky with US Deputy Secretary of Commerce David Sampson, reports the Cabinet of Ministers press service.

As is known, this protocol is a guarantee of Ukraine's accession to the WTO in the near future. This should also become a "weighty argument" when the US Parliament considers the issue of repealing the Jackson-Vanik amendment regarding Ukraine, the report says.

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President Viktor Yushchenko welcomed the US decision to grant Ukraine market economy status.