Ukraine Joins the World Economy

Another news item that sort of slipped our collective attention is that Ukraine quietly joined the World Trade Organization (WTO) as the newest member after 14 years of negotiations.  Ukraine will become the 152nd country to join the WTO.  According to the Ukrainian Premier Viktor Yushchenko it will boost the economy by nearly two percent per annum and give much-needed boost to metals industry, which accounts for nearly one-third of the economy.  It interesting to note that Soviet Russia is the only country with a major economy that is yet to join the WTO.