On 11 November 2015 WTO Committee on Government Procurement held its meeting, in the course of which, in particular, the issue of accession of Ukraine to the WTO Government Procurement Agreement was considered.

Delegation of the Ministry of Economic Development and Trade of Ukraine headed by the Deputy Minister M.Nefyodov during the meeting presented the report on Ukraine’s reforms held in the field of public procurement.

The participants noted the efficiency of Ukraine’s work in the relevant field and unanimously approved the decision on Ukraine`s accession to the Agreement, which opens for domestic companies the access to foreign market for government procurement tenders, the annual volume of which, according to the WTO experts, reaches more than 1 trln. USD.

Potential benefits of full membership of Ukraine in the WTO Committee, in addition to access to foreign markets, are the increased competition in accordance with clearly defined rules, reduced level of corruption as a result of the introduction of transparency requirements for companies and tender procedures, improving efficiency of distribution of state resources and the economic feasibility of public decisions in general.