Ukraine has successfully conducted its second-ever Trade Policy Review at the World Trade Organization (WTO). The sessions took place on February 26 and 28 at the WTO headquarters in Geneva. The delegation was led by Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.
Preparation for the review lasted over a year, with Ukraine collaborating with government bodies, the Ministry of Economy's structural units, and the WTO Secretariat. In December, WTO members received reports from the Secretariat and the Ukrainian Government for analysis.
"We received over 400 written questions from 20 WTO members, mainly regarding trade and investment regimes. This confirms significant interest in deepening economic cooperation with Ukraine despite the ongoing war. Especially valuable for us were comments on the resilience of our economy, the critical role of agricultural exports in global food security, and the development of high-value-added industries. WTO members also highly praised our progress in intellectual property protection and transparency commitments," said Taras Kachka.
He emphasized that the successful review would strengthen Ukraine's trade relations with partners.
"The responses to the questions, along with additional clarifications that we will send shortly, will provide WTO members with the necessary information about opportunities and benefits of cooperation with Ukraine," added Taras Kachka.
Also, Taras Kachka highlighted a significant achievement in economic diplomacy at the WTO session—the inclusion of a joint statement by 45 WTO members condemning the destructive impact of Russian aggression on the global trade system. The statement was circulated as an official WTO document.
Background: Trade policy reviews are one of the most important activities of the WTO. The goal is to ensure transparency and predictability in the trade regimes of WTO members, promoting fuller compliance with WTO rules and principles.
The frequency of trade policy reviews depends on the member's share in global trade:
- The four largest global traders (EU, US, Japan, and China) undergo the review process every three years;
- The next 16 WTO members (including countries like Australia, Brazil, Canada, Switzerland, India, Turkey, Singapore, South Korea, Malaysia, Thailand, UAE, etc.) every five years;
- Other WTO members, including Ukraine, every seven years, with the possibility of extending the review period for least-developed countries if needed.
Ukraine became a full member of the World Trade Organization in 2008. Its first Trade Policy Review took place in April 2016. The next review was scheduled for November 2023, but due to Russia's full-scale aggression, the dates were postponed to 2025.
