Over the last couple of years we have observed an unprecedented turbulent trade environment around the globe. Given the rising wave of nationalism the main trading states follow political guidelines dressed up as scientific evidence.
The issues of EU – Ukraine trade and investment relations, a new generation of FTAs, the ongoing trade war with the Russian Federation remain high on Ukraine’s international trade agenda. Yet, being more forward thinking, we should anticipate events and be prepared for the outcomes of current tensions between the US and China and the growing level of protectionism across the world.
As you probably know, Ukraine is going to revitalize trade remedy instruments. For the last two years, the community that is not indifferent to the Ukrainian trade — practicing lawyers, colleagues from the Ministry of Economic Development (MEDT), and business — has been following the progress of consideration by the Verkhovna Rada of three new draft laws in the field of trade protection that were developed by MEDT.
New Trade Laws — anti-dumping, countervailing, and safeguard — are intended to update existing trade investigation procedures and introduce progressive international experience...
As a fully-fledged member of the World Trade Organization (WTO), Ukraine uses in a broad way the entire arsenal of trade remedies to defend its trade interests. Eleven years of WTO membership have given Ukraine a valuable opportunity to sharpen its skills in practical application of trade defense instruments, although transparency and simplification of procedures still remain an issue.
In conditions of world economic cooperation, the presence of a foreign element in the economic sector of any state positively affects domestic and world markets. The involvement of non-resident companies in the Ukrainian economy is a very important element in building a well-developed and competitive state.
In order to reflect the real picture of the business climate for non-residents in Ukraine since 2008, there is such an indicator as the Index of Investment Attractiveness of Ukraine (Index) according to the version of top managers of affiliated companies of the European Business Association...
Yaroslava Dorosh, Îleksandr Tereshchenko
Core of the problem
Article 4 of the Law of Ukraine On Pesticides and Agrochemicals bans the importing into the customs territory of Ukraine, production, trade, use and advertising of pesticides and agrochemicals before they have undergone state registration. Given that in many countries the vast majority of pesticides and agrochemicals are classified as dangerous goods, the preliminary registration requirement is a logical step, which exists in almost all EU and OECD jurisdictions.
CMS advised ING
AVELLUM acted as legal counsel to Dobrobut
Ukrnafta won case against Russia in international arbitration
Court recognized PrivatBank’s nationalization as illegal
Court canceled multimillion claims filed by State Fiscal Service against carrier UIA
Court ordered Odessa Port Plant to pay USD 250 million to Ostchem
Ukrainian Parliament approved introduction of common transit with EU countries
Protection of rights of payment cards users to be stepped up
Government submitted Draft Law On the Improvement of the Procedure on Licensing of Economic Activities
Porsche fined EUR 500 million
Scandinavian Airlines to resume flights to Ukraine in autumn
AMCU allowed DTEK Naftogaz LLC to buy 2 more regional power distribution companies
NBU cuts discount rate
NBU to strengthen FinTech support in Ukraine
Ukraine to join international depository network for first time
Visa acquired Earthport
Auctions for “green” energy manufacturers to be introduced in Ukraine
Limit raised on dividend repatriation
Government extended sanctions against Russia
Government tightens up requirements of tour operators towards holidaymakers
Ukraine’s trade policy is among the most sensitive areas of international cooperation due to its vivid geopoliti-cal flavor. These past years became truly turbulent for business and no less for those who shape policy. Ukraine might feel the consequences of ongoing tensions between global leaders, and also maintains its own trade war front with its northern neighbor, Russia. The state has, of course, been diversifying trade marketing efforts in favor of the EU and other markets around the globe.
Anzhela Makhinova, partner of Sayenko Kharenko, explained her serious concerns, as in the absence of a working Parliament the business sector is deprived of efficient trade defense instruments for protecting do-mestic industry. At the same time, we talked about additional means available through membership in the WTO to protect the national interests in export markets, which are currently not being used to the full.
Cross-border trade has been increasing constantly, with both local companies and multinational corporations looking for ways to expand their trade approaching new markets and suppliers throughout the world.
Last month the UJBL editorial team monitored novelties of legislation as well as significant amendments and hot legal topics. In this section our team has enlisted the help of experts to comment on some of them. Our latest digest includes Resolution On Expanding the List of Goods Originating from Russia Prohibited for Import into the Customs Territory of Ukraine, several resolutions of the National Bank of Ukraine and the court decision on nationalization of PrivatBank. Another milestone was adoption of Law On Amendments to Certain Legislative Acts of Ukraine on Ensuring Competitive Terms of Production of Electricity from Renewable Sources.
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