BERLIN, Dec. 12 (Xinhua) -- German Chancellor Angela Merkel hailed here on Wednesday the signing of the long-awaited EU Reform Treaty in Lisbon, saying it is a milestone for the European Union (EU).

    "This day marks a historic success, a success for Europe," Merkel told the German parliament on Wednesday, a day before leaders of the EU's 27 member states are to sign the treaty in Lisbon.

    Merkel said the treaty, designed to make the bloc more effective and transparent, lays the basis for a European Union of the 21st century.

    Germany planned to start the ratification process next year and complete it by May 2008, she said.

    Merkel said she hoped other countries would follow suit so that the treaty, designed to replace the constitution that were rejected by French and Dutch voters, could come into effect in 2009.

    On Thursday, Merkel will join other EU leaders for the signing of the Reform Treaty in Lisbon. Following that they will travel to Brussels for a summit dealing with globalization, security policy and foreign affairs.

    The chancellor said the summit would issue a declaration on globalization, setting out the EU's position in the race to gain the upper hand in international competitiveness.