The Committee on Balance-of-Payments Restrictions concluded consultations on Ukraine’s import surcharge adopted for balance-of-payments reasons on 11 June. Although most members considered Ukraine’s measure to be in line with WTO rules, one delegation was not in agreement.
Since 25 February, Ukraine has been imposing a surcharge of 5% on imports of industrial goods and 10% on imports of agricultural goods to deal with “exceptional conditions” affecting its balance of payments. This measure was notified to the WTO in January 2015.
In resuming consultations following the previous meeting in April, most members found that Ukraine’s measure was justified by its balance-of-payment situation and in conformity with the rules laid out in Article XII of the General Agreement on Tariffs and Trade (GATT) 1994 and in theUnderstanding on Balance-of-Payments Provisions. Members strongly encouraged Ukraine to terminate the measure no later than at the end of this year. Most members acknowledged Ukraine’s economic reform efforts in the context of the four-year US$ 17.5 billion Extended Fund Facility Programme approved by the International Monetary Fund (IMF) Board in March 2015.
One member said that several factors, including the devaluation of the hryvnia, have already improved Ukraine’s balance-of-payments situation and that WTO members should not take measures to protect a particular industry. The member urged Ukraine to remove the measure because it could not be justified under WTO balance-of-payments provisions.
Ukraine provided additional clarifications (read previous explanations) on its economic and balance-of-payments situation, including answer