Ukraine reserves right to initiate revision of WTO membership terms for three years
Ukraine has reserved the right to initiate the review of its commitments to the World Trade Organization (WTO) on customs duties during the next three-year period, which started on January 1, 2015.
"Ukraine reserves the right under Article XXVIII: 5 of GATT 1994 (the General Agreement on Tariffs and Trade) to modify its schedule CLXII during a three-year period commencing on January 1, 2015," reads a report from the WTO Committee on Market Access on the WTO website.
As reported, Ukraine, which became a WTO member in 2008, for the first time reserved the right to initiate the revision of its tariff commitments from January 1, 2012 and submitted to the organization a list of 371 positions for a possible review. However, after a harsh criticism from other WTO members Kyiv refused the implementation of its initial plans.
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