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Additional import fee to cancel the plan at the end of the year

Ukraine has completed consultations in the framework of the WTO Committee on limitations in relation to the balance of payments with respect to the temporary import of additional data collection, which was introduced by Ukraine February 25, 2015.

This event is provided for in the Memorandum of Economic and Financial Policies between Ukraine and the IMF. The vast majority of WTO members recognized that the measures imposed by Ukraine related to the difficult situation of the balance of payments and implemented in full compliance with the provisions of the WTO agreements.

As stated in the Ministry of Economic Development, WTO members supported the decision of Ukraine to cancel the measures to stabilize the balance of payments no later than the scheduled date (end-December 2015), or, if possible, before. In addition, within the framework of consultations Ukraine to provide clarification regarding the objective criteria to be taken into account when deciding on the early termination of the measures, particularly where international reserves of Ukraine reached a level that will provide cover 3 months of imports in future periods.

Ukraine has provided detailed explanations on the complex started reforms that are carried out in many areas: banking, energy, deregulation and enterprise development, as well as increased efforts to stimulate exports. These reforms and structural changes being introduced simultaneously with the action of the additional import duties to contribute to improving the situation of balance of payments of Ukraine by all available means.

WTO members reacted positively expressed Ukraine's position regarding the termination of the measures before the end of 2015.

According   data   Ministry of Economic Development website.

Source:ЛІГА:ЗАКОН

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