March 25 2008, 09:39

Ukraine's entrance to WTO: the import tariff rates for the agricultural products will be halved

As soon as Ukraine officially enters World Trade Organization (WTO), the import tariff rates for the agricultural products will be reduced in average 50%. Also, during 6 years Ukraine should reduce the size of the inner state support provided to the agricultural producers for more than UAH 600 mln. ($120 mln.). This information was provided by Sergey Kvasha, the Academician -Secretary of the Agrarian Economics of Land Relations Department, Ukrainian Academy of Agrarian Sciences, LIGABusinessInform informs.

Mr. Kvasha specified that by the present moment the systematic reduction of the tariff rates because of Ukraine's entrance to WTO has been already settled. In general, the rates should decline from 21% down to 10.6% in the agrarian sector.

As of today, the level of the inner state support for the agricultural producers is defined to amount to $602 mln. However, during the next 6 years Ukraine should reduce the level of the support down to $480 mln. "To freely compete in the conditions of WTO, Ukrainian producers should intensify the agricultural production at least to European level; this should be the number one objective", Mr. Kvasha pointed out.