BUSINESSINDIVIDUALS

Ukraine joins WTO government procurement agreement

Ukraine has joined the World Trade Organization Government Procurement Agreement (WTO GPA).

Deputy Economic Development and Trade Minister of Ukraine Maksym Nefyodov posted this on Facebook.

"Ukraine’s bid to join the GPA has been unanimously approved by the parties to the agreement! This is clearly the diplomatic victory of Ukraine, opening the mutual access to the markets of government procurement," he wrote.

Nefyodov listed the economic benefits to Ukraine, "Our market has been already opened to foreigners for many years. In any case, the foreign companies may open branches in Ukraine and to work through them."

"At the same time, the markets of other countries were closed for our manufacturers, and it was difficult to expect that the average domestic company would open the branch in New Zealand or Norway," he wrote.

It should be noted that the agreement opens the access of Ukraine to the government procurement markets in 43 countries, including the USA, Canada, Japan, and the European Union.


By Ukrinform