Ukraine has completed consultations on a temporary additional import duty

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 import collecting, which was introduced in Ukraine on February 25th 2015. This event provided for in the Memorandum of Economic and Financial Policies between Ukraine and the IMF. At the previous meeting of the WTO Committee on Balance of Payments, IMF representatives noted that Ukraine was forced to use temporary administrative measure because of the tense geopolitical situation and the deepening economic crisis in the second half of 2014. The vast majority of WTO members recognized that the measures imposed by Ukraine related to the difficult situation of the balance of payments and put into full compliance with the provisions of the WTO agreements. Russian Federation is the only member of the WTO that did not join the consensus on this issue.