Ukraine reserves right to initiate revision of WTO membership terms for three years

18:00, 28.01.2015 1 min read

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.