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12 July 2018

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News

01 December 2017, 18:15

Buy Ukrainian – Pay to Ukrainians

( Information Department of the Verkhovna Rada of Ukraine Secretariat )

The committee held a roundtable on “Buy Ukrainian – Pay to Ukrainians” theme

There were ample talks over implementation arrangements, enablers, compliance to Ukraine’s international commitments and economic benefits of the draft bill No.7206 nicknamed “Buy Ukrainian – Pay to Ukrainians”. The event acquired a large attendance by parliamentarians, producers, entrepreneurs, leaders of branch-wise associations and experts.

The core idea was that through adoption of the bill there would be possible to enlarge GDP by 1.1%, reduce unemployment by 0.4% and imports by 4.4 % which, combined, should have a positive effect over the balance of trade, industrial production and income of the people.

Annual turnover of public (state) purchases amounts to UAH 275 billion which makes some 12% of Ukraine’s GDP.

It was also stated that the share of merely price-based tenders in Europe tends to be from nil to some 10% of the total since there is the multi-factor model prevailing.

The proposed “Buy-Ukrainian” model is in line with the international commitments of Ukraine within the World Trade Organization and under the EU Deep and Comprehensive Free Trade Areas agreement since it falls under exemption from the rules general as a measure for micro-finance and micro-economic stabilization to be taken by a country under external or armed (military) aggression, which is tolerated by international trade law.