EU wants compensation from Ukraine after change of tariff policy within WTO
2013-02-13 12:44:04
The European Commission has been instructed to begin negotiations with Ukraine on the receipt of full compensation if the Ukrainian side reviews its tariff obligations under the rules of the World Trade Organization (WTO).
This is stated in the conclusions of the EU Council on Economic and Financial Affairs (ECOFIN), which were adopted at a meeting in Brussels on Tuesday, a UKRINFORM reporter said.
"The Council adopted a decision authorizing the [European] Commission to start negotiations with Ukraine, under article 28 of the 1994 General Agreement on Tariffs and Trade, to obtain full compensation for any modification of tariff concessions by Ukraine," reads the document.
As reported, in September 2012 Ukraine warned WTO members of its intention to raise tariffs on imports of about 370 products.