Ukraine will take part in the Common Economic Space, Ukrainian President Viktor Yushchenko told reporters in Kyiv on Monday.

Ukraine will exercise its interests in the East and in the Common Economic Space by the use of specific mechanisms, he said. At the same time, Ukraine will pursue its interests in the West in the framework of the traditional institutions of the European community, he said.

"Taking in consideration the fact that both directions are important for us, we have to realize that we can not accept conditions under which the organization of our Eastern policy might come into conflict or block the implementation of our principles in the Common Economic Space," he said.