Ukraine successfully passes the second ever Trade Policy Review

Ukraine has successfully completed its second ever Trade Policy Review at the World Trade Organisation. The meeting was held on 26 and 28 February at the WTO headquarters in Geneva. The delegation was headed by Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.

Preparations for the Review lasted over a year. Ukraine cooperated with government agencies, structural units of the Ministry of Economy and the WTO Secretariat. In December, WTO members received the reports of the Secretariat and the Government of Ukraine for analysis.

"We have received over 400 written questions from 20 WTO members, mainly on trade and investment regimes. This confirms the significant interest in deepening economic cooperation with Ukraine despite the war. We are particularly appreciative of the feedback on the resilience of the economy, the critical role of agricultural exports in global food security, and the development of high value-added industries. WTO members also praised the progress in protecting intellectual property and fulfilling transparency commitments," said Taras Kachka.

He emphasised that a successful Trade Policy Review would help strengthen Ukraine's trade relations with its partners.

"The answers to the questions provided, as well as additional clarifications that we will send in the near future, will provide WTO members with the necessary information on the opportunities and benefits of cooperation with Ukraine," added Taras Kachka.

The Deputy Minister of Economy - Trade Representative of Ukraine also noted a significant achievement of economic diplomacy at the WTO meeting - for the first time, a joint statement by 45 WTO members condemning the devastating impact of russian aggression on the global trading system was included in the minutes. The statement was circulated as an official WTO document.

Background information

Conducting trade policy reviews of WTO members is one of the most important activities of this international organisation. The purpose of the reviews is to ensure transparency and predictability of trade regimes of the WTO members, and to promote fuller compliance with the WTO rules and principles by all members.

The regularity of trade policy reviews depends on the WTO member's share in total world trade:

- the four largest global traders (the EU, the USA, Japan and China) have to undergo such a procedure, as a rule, every three years;

- the next 16 WTO members (countries such as Australia, Brazil, Canada, Switzerland, India, Turkey, Singapore, Korea, Malaysia, Thailand, UAE, etc.) - every five years;

- other WTO members, including Ukraine, - every seven years, with the possibility of extending the period between reviews for the least developed countries, as well as if necessary.

Ukraine became a full member of the World Trade Organisation in 2008. Ukraine's first Trade Policy Review was held in April 2016. The next one was due in November 2023, but due to russia's full-scale aggression, the deadline was postponed to 2025.