News date: 15 January 2016
Olena Omelchenko, Head of International Trade at Ilyashev & Partners Law Firm, Head of the Working Group on Foreign Trade of the American Chamber of Commerce in Ukraine (ACC), participates in a joint project of the Ministry of Economic Development and Trade of Ukraine and the ACC on developing regulations on implementation of the Dispute Settlement Understanding on Rules and Procedures Governing the Settlement of Disputes of the World Trade Organization (WTO).
The group of experts drafts a national mechanism for making decisions on initiation of cases for settlement of trade disputes in the WTO. For this purpose, the following regulations are drawn up:
The above documents will form the legal framework and the national mechanism for the effective protection of economic and trade interests of Ukraine and business community as part of dispute settlement procedures in the WTO.
Recall that since Ukraine became a WTO member in 2008, the provisions of the Understanding on Rules and Procedures Governing the Settlement of Disputes of the WTO have not yet been implemented into the national legislation of Ukraine. These circumstances impede significantly the implementation of protection of trade interests of Ukrainian business through the WTO’s mechanisms.