Economic Development Ministry: Protection of domestic producers does not contradict WTO agreements

Economic Development Ministry: Protection of domestic producers does not contradict WTO agreements

Ukrinform
The draft law on the protection of Ukraine's national economic interests, which was approved by the Cabinet of Ministers on January 20, does not contradict Ukraine's international agreements in the trade and economic sphere.

A corresponding statement was made by Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko, the Ministry’s press service reports.

As noted, at the Cabinet’s meeting on January 20, a bill that strengthens the protection of Ukraine's national economic interests amid the protectionist policies in the world and emergencies in international relations was approved. The Economic Development Ministry is convinced that the adopted changes do not contradict the agreements of the World Trade Organization (WTO) and the international agreements of Ukraine in the trade and economic sphere.

"Today, the whole world uses the principle of protectionism to protect domestic producers. In this perspective, we must also protect our producers and exporters in the international trade arena, thereby increasing the competitiveness of the national economy," Petrashko stressed.

The document proposes to introduce the following amendments to the Law of Ukraine "On Foreign Economic Activity": introduction at the legislative level the procedure for protecting the rights and interests of subjects of foreign economic activity of Ukraine when foreign states or other subjects of international law conduct anti-dumping, anti-subsidy or special investigations into the import of goods of Ukrainian origin and the procedure for protecting the rights and interests of Ukraine within the WTO and international agreements of Ukraine in the trade and economic sphere; granting the Economic Development Ministry the right to represent and self-represent the interests of the interagency commission on international trade in courts; differentiating the mechanism for taking measures in response to internationally wrongful acts and / or hostile actions of a foreign state or other subjects of international law against Ukraine from taking measures in response to discriminatory actions of a foreign state or other subjects of international law against subjects of foreign economic activity of Ukraine.

ol


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2021 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-