WTO confirms extra import duty imposed by Ukraine complies with WTO requirements
The General Council of the World Trade Organization (WTO) has confirmed that an additional import duty imposed by Ukraine complies with the requirements of WTO agreements, Deputy Minister of Economic Development and Trade, Trade Representative of Ukraine Natalia Mykolska has said.
"The committee report on the balance of payments with respect to consultations with Ukraine on additional import duties has been approved by the WTO General Council. The decision of the WTO General Council confirmed the compliance of the additional import duty with the requirements of WTO agreements," she wrote on Twitter.
The official noted that the Ministry of Economic Development and Trade is completing the analysis of the additional import duty effect on the economy, in particular production and exports, and would submit the results to the Cabinet for consideration.
As reported, Minister of Economic Development and Trade Aivaras Abromavicius in early July stated an additional import fee could be canceled ahead of time. He said the ministry is collecting information on the effect of such a duty.