Ukrainian Government Approves Trade Protection Laws
Date: 2023-11-24 Author: Dima Zakharov Categories: ECONOMY
In the first proposed law, "Protective Measures," the Cabinet suggests revising the Ukrainian law on the application of special measures for importing into Ukraine. The second law, "Protection Against Dumping Imports," introduces a new version of the law safeguarding national producers from dumping imports. The third law, "Protection Against Subsidized Imports," represents a revised version of the law protecting national producers from subsidized imports.
The Ministry of Economy emphasizes that these government-endorsed documents expand opportunities for protecting national producers from dishonest and increasing imports, reducing business costs in preparing materials and documentation during protective investigations. Clear timelines for procedural stages of investigations are established, ensuring consultation with interested parties.
Additionally, a mechanism is proposed to guarantee payment of preliminary protective duties or duties during investigations of evasion from payment. According to the First Deputy Prime Minister of Ukraine and Minister of Economy, Yulia Sviridenko, these approved bills align with modern international trade protection practices. The Ministry of Economy took into account EU regulations, WTO norms, and relevant clarifications while developing these documents, aiming to maintain and strengthen opportunities for free trade while ensuring reliable protection of national interests.
If these bills are adopted by the Verkhovna Rada, Ukraine will have reliable, transparent, and understandable trade protection tools for both Ukrainian businesses and international partners.
The Ministry of Economy emphasizes that these government-endorsed documents expand opportunities for protecting national producers from dishonest and increasing imports, reducing business costs in preparing materials and documentation during protective investigations. Clear timelines for procedural stages of investigations are established, ensuring consultation with interested parties.
Additionally, a mechanism is proposed to guarantee payment of preliminary protective duties or duties during investigations of evasion from payment. According to the First Deputy Prime Minister of Ukraine and Minister of Economy, Yulia Sviridenko, these approved bills align with modern international trade protection practices. The Ministry of Economy took into account EU regulations, WTO norms, and relevant clarifications while developing these documents, aiming to maintain and strengthen opportunities for free trade while ensuring reliable protection of national interests.
If these bills are adopted by the Verkhovna Rada, Ukraine will have reliable, transparent, and understandable trade protection tools for both Ukrainian businesses and international partners.
