OREANDA-NEWS. May 15, 2008. Ukraine's accession to the World Trade Organization will have no effect on the volume of Ukrainian-Russian commodity turnover, Volodymyr Shevchenko, the deputy director of the department for cooperation with Russia and the CIS at the Ukrainian Economy Ministry, said, reported the Official website www.kmu.gov.ua.

He noted that trade between the two countries would at least double within the next two years before Russia's accession to WTO.

"Two factors will have effect on the growth in trade - energy prices and inflation," Shevchenko said.

The Verkhovna Rada ratified a protocol on Ukraine's accession to the World Trade Organization on April 10, 2008.

On April 16, President Viktor Yushchenko signed a law on the ratification of a protocol on Ukraine's accession to the World Trade Organization.