diff --git a/compiler/testData/codegen/boxWasmJsInterop/wasmExport.kt b/compiler/testData/codegen/boxWasmJsInterop/wasmExport.kt
index ed42c007418..3bf7db3b0bf 100644
--- a/compiler/testData/codegen/boxWasmJsInterop/wasmExport.kt
+++ b/compiler/testData/codegen/boxWasmJsInterop/wasmExport.kt
@@ -3,17 +3,17 @@
 import kotlin.wasm.WasmExport
 
 @WasmExport
-fun exportDefaultName(): String = "some string"
+fun exportDefaultName(): Boolean = true
 
-fun checkDefaultName(): Int = js("typeof wasmExports.exportDefaultName() === 'object'")
+fun checkDefaultName(): Boolean = js("typeof wasmExports.exportDefaultName() !== 'object'")
 
 @WasmExport("exportOverriddenName")
-fun exportWithName(): String = "some string"
+fun exportWithName(): Boolean = true
 
-fun checkOverriddenName(): Int = js("typeof wasmExports.exportOverriddenName() === 'object'")
+fun checkOverriddenName(): Boolean = js("typeof wasmExports.exportOverriddenName() !== 'object'")
 
 fun box(): String {
-    if (checkDefaultName() != 1) return "checkDefaultName fail"
-    if (checkOverriddenName() != 1) return "checkOverriddenName fail"
+    if (!checkDefaultName()) return "checkDefaultName fail"
+    if (!checkOverriddenName()) return "checkOverriddenName fail"
     return "OK"
 }
\ No newline at end of file
diff --git a/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmExport.kt b/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmExport.kt
index f1ae75722cb..44c98621a6e 100644
--- a/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmExport.kt
+++ b/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmExport.kt
@@ -21,3 +21,38 @@ fun foo4(): Int = 42
 @JsExport()
 @WasmExport()
 fun foo6(): Int = 42<!>
+
+val p1 = (<!NESTED_WASM_EXPORT!>@WasmExport("a") fun () {}<!>)
+
+@WasmExport("a")
+fun foo7(
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p0: Unit<!>,
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p1: String<!>,
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p2: Any<!>,
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p3: Int?<!>,
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p4: Boolean?<!>
+): Unit {
+    p0.toString()
+    p1.toString()
+    p2.toString()
+    p3.toString()
+    p4.toString()
+}
+
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmExport("a")
+fun returnNullableUnit(): Unit? { return null }<!>
+
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmExport("a")
+fun returnNullableBoolean(): Boolean? { return null }<!>
+
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmExport("a")
+fun returnNullableAny(): Any?  { return null }<!>
+
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmExport("a")
+fun <T> fooGeneric(<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>x: T<!>): T { return x }<!>
+
+@WasmExport("a")
+fun fooDeafultAndVararg(
+<!WASM_IMPORT_EXPORT_PARAMETER_DEFAULT_VALUE!><!UNUSED_PARAMETER!>a<!>: Int = <!CALL_TO_DEFINED_EXTERNALLY_FROM_NON_EXTERNAL_DECLARATION!>definedExternally<!><!>,
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE, WASM_IMPORT_EXPORT_VARARG_PARAMETER!>vararg b: Int<!>
+): Unit { b.toString() }
diff --git a/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmImport.kt b/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmImport.kt
index e436de2b3e2..2736e746c3b 100644
--- a/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmImport.kt
+++ b/compiler/testData/diagnostics/wasmTests/wasmInterop/wasmImport.kt
@@ -22,28 +22,28 @@ val p1 = (<!NESTED_WASM_IMPORT, WASM_IMPORT_ON_NON_EXTERNAL_DECLARATION!>@WasmIm
 
 @WasmImport("a", "b")
 external fun foo3(
-    <!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE!>p0: Unit<!>,
-    <!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE!>p1: String<!>,
-    <!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE!>p2: Any<!>,
-    <!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE!>p3: Int?<!>,
-    <!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE!>p4: Boolean?<!>
+    <!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p0: Unit<!>,
+    <!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p1: String<!>,
+    <!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p2: Any<!>,
+    <!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p3: Int?<!>,
+    <!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>p4: Boolean?<!>
 ): Unit
 
 
-<!WASM_IMPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
 external fun returnNullableUnit(): Unit?<!>
 
-<!WASM_IMPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
 external fun returnNullableBoolean(): Boolean?<!>
 
-<!WASM_IMPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
 external fun returnNullableAny(): Any?<!>
 
-<!WASM_IMPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
-external fun <T> fooGeneric(<!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE!>x: T<!>): T<!>
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE!>@WasmImport("a", "b")
+external fun <T> fooGeneric(<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE!>x: T<!>): T<!>
 
 @WasmImport("a", "b")
 external fun fooDeafultAndVararg(
-    <!WASM_IMPORT_PARAMETER_DEFAULT_VALUE!>a: Int = definedExternally<!>,
-<!WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE, WASM_IMPORT_VARARG_PARAMETER!>vararg b: Int<!>
-): Unit
\ No newline at end of file
+<!WASM_IMPORT_EXPORT_PARAMETER_DEFAULT_VALUE!>a: Int = definedExternally<!>,
+<!WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE, WASM_IMPORT_EXPORT_VARARG_PARAMETER!>vararg b: Int<!>
+): Unit
diff --git a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/WasmPlatformConfigurator.kt b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/WasmPlatformConfigurator.kt
index 08ff838b3e4..ca8b7b3cb13 100644
--- a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/WasmPlatformConfigurator.kt
+++ b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/WasmPlatformConfigurator.kt
@@ -30,9 +30,9 @@ object WasmPlatformConfigurator : PlatformConfiguratorBase(
         JsExportDeclarationChecker,
         WasmExternalDeclarationChecker,
         WasmImportAnnotationChecker,
+        WasmExportAnnotationChecker,
         WasmJsFunAnnotationChecker,
         WasmJsInteropTypesChecker,
-        WasmInteropTypesChecker,
     ),
     additionalCallCheckers = listOf(
         JsModuleCallChecker,
diff --git a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/DefaultErrorMessagesWasm.kt b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/DefaultErrorMessagesWasm.kt
index 3475302332d..7d39be949cd 100644
--- a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/DefaultErrorMessagesWasm.kt
+++ b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/DefaultErrorMessagesWasm.kt
@@ -31,10 +31,10 @@ private val DIAGNOSTIC_FACTORY_TO_RENDERER by lazy {
 
         put(ErrorsWasm.NESTED_WASM_IMPORT, "Only top-level functions can be imported with @WasmImport")
         put(ErrorsWasm.WASM_IMPORT_ON_NON_EXTERNAL_DECLARATION, "Functions annotated with @WasmImport must be external")
-        put(ErrorsWasm.WASM_IMPORT_PARAMETER_DEFAULT_VALUE, "Default parameter values are not supported with @WasmImport")
-        put(ErrorsWasm.WASM_IMPORT_VARARG_PARAMETER, "Vararg parameters are not supported with @WasmImport")
-        put(ErrorsWasm.WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE, "Unsupported @WasmImport parameter type {0}", Renderers.RENDER_TYPE)
-        put(ErrorsWasm.WASM_IMPORT_UNSUPPORTED_RETURN_TYPE, "Unsupported @WasmImport return type {0}", Renderers.RENDER_TYPE)
+        put(ErrorsWasm.WASM_IMPORT_EXPORT_PARAMETER_DEFAULT_VALUE, "Default parameter values are not supported with @WasmImport and @WasmExport")
+        put(ErrorsWasm.WASM_IMPORT_EXPORT_VARARG_PARAMETER, "Vararg parameters are not supported with @WasmImport and @WasmExport")
+        put(ErrorsWasm.WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE, "Unsupported @WasmImport and @WasmExport parameter type {0}", Renderers.RENDER_TYPE)
+        put(ErrorsWasm.WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE, "Unsupported @WasmImport and @WasmExport return type {0}", Renderers.RENDER_TYPE)
 
         put(ErrorsWasm.WRONG_JS_FUN_TARGET, "Only top-level external functions can be implemented using @JsFun")
 
diff --git a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/ErrorsWasm.java b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/ErrorsWasm.java
index 60a4746518f..631c7651a84 100644
--- a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/ErrorsWasm.java
+++ b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/ErrorsWasm.java
@@ -25,10 +25,10 @@ public interface ErrorsWasm {
 
     DiagnosticFactory0<PsiElement> NESTED_WASM_IMPORT = DiagnosticFactory0.create(ERROR);
     DiagnosticFactory0<PsiElement> WASM_IMPORT_ON_NON_EXTERNAL_DECLARATION = DiagnosticFactory0.create(ERROR);
-    DiagnosticFactory0<PsiElement> WASM_IMPORT_PARAMETER_DEFAULT_VALUE = DiagnosticFactory0.create(ERROR);
-    DiagnosticFactory0<PsiElement> WASM_IMPORT_VARARG_PARAMETER = DiagnosticFactory0.create(ERROR);
-    DiagnosticFactory1<PsiElement, KotlinType> WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE = DiagnosticFactory1.create(ERROR);
-    DiagnosticFactory1<PsiElement, KotlinType> WASM_IMPORT_UNSUPPORTED_RETURN_TYPE = DiagnosticFactory1.create(ERROR);
+    DiagnosticFactory0<PsiElement> WASM_IMPORT_EXPORT_PARAMETER_DEFAULT_VALUE = DiagnosticFactory0.create(ERROR);
+    DiagnosticFactory0<PsiElement> WASM_IMPORT_EXPORT_VARARG_PARAMETER = DiagnosticFactory0.create(ERROR);
+    DiagnosticFactory1<PsiElement, KotlinType> WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE = DiagnosticFactory1.create(ERROR);
+    DiagnosticFactory1<PsiElement, KotlinType> WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE = DiagnosticFactory1.create(ERROR);
 
     DiagnosticFactory0<PsiElement> WRONG_JS_FUN_TARGET = DiagnosticFactory0.create(ERROR);
 
diff --git a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmImportAnnotationChecker.kt b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmImportAnnotationChecker.kt
index af5bd3b92f2..ab91c1e65bd 100644
--- a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmImportAnnotationChecker.kt
+++ b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmImportAnnotationChecker.kt
@@ -19,6 +19,7 @@ package org.jetbrains.kotlin.wasm.resolve.diagnostics
 import org.jetbrains.kotlin.descriptors.*
 import org.jetbrains.kotlin.name.FqName
 import org.jetbrains.kotlin.psi.KtDeclaration
+import org.jetbrains.kotlin.resolve.BindingTrace
 import org.jetbrains.kotlin.resolve.DescriptorToSourceUtils
 import org.jetbrains.kotlin.resolve.DescriptorUtils
 import org.jetbrains.kotlin.resolve.calls.components.isVararg
@@ -44,26 +45,12 @@ object WasmImportAnnotationChecker : DeclarationChecker {
         if (!DescriptorUtils.isTopLevelDeclaration(descriptor)) {
             trace.report(ErrorsWasm.NESTED_WASM_IMPORT.on(wasmImportPsi))
         }
+
         if (descriptor is FunctionDescriptor) {
             if (!descriptor.isEffectivelyExternal()) {
                 trace.report(ErrorsWasm.WASM_IMPORT_ON_NON_EXTERNAL_DECLARATION.on(wasmImportPsi))
             }
-            for (parameter: ValueParameterDescriptor in descriptor.valueParameters) {
-                val valueParameterDeclaration by lazy { DescriptorToSourceUtils.descriptorToDeclaration(parameter)!! }
-                if (parameter.declaresDefaultValue()) {
-                    trace.report(ErrorsWasm.WASM_IMPORT_PARAMETER_DEFAULT_VALUE.on(valueParameterDeclaration))
-                }
-                if (parameter.isVararg) {
-                    trace.report(ErrorsWasm.WASM_IMPORT_VARARG_PARAMETER.on(valueParameterDeclaration))
-                }
-                if (!isParameterTypeSupported(parameter.type)) {
-                    trace.report(ErrorsWasm.WASM_IMPORT_UNSUPPORTED_PARAMETER_TYPE.on(valueParameterDeclaration, parameter.type))
-                }
-            }
-            val returnType = descriptor.returnType
-            if (returnType != null && !isReturnTypeSupported(returnType)) {
-                trace.report(ErrorsWasm.WASM_IMPORT_UNSUPPORTED_RETURN_TYPE.on(declaration, returnType))
-            }
+            checkSignatureIsPrimitive(descriptor, trace, declaration)
         }
     }
 
@@ -72,5 +59,23 @@ object WasmImportAnnotationChecker : DeclarationChecker {
 
     private fun isReturnTypeSupported(type: KotlinType): Boolean =
         isParameterTypeSupported(type) || type.isUnit()
-}
 
+    fun checkSignatureIsPrimitive(descriptor: FunctionDescriptor, trace: BindingTrace, declaration: KtDeclaration) {
+        for (parameter: ValueParameterDescriptor in descriptor.valueParameters) {
+            val valueParameterDeclaration by lazy { DescriptorToSourceUtils.descriptorToDeclaration(parameter)!! }
+            if (parameter.declaresDefaultValue()) {
+                trace.report(ErrorsWasm.WASM_IMPORT_EXPORT_PARAMETER_DEFAULT_VALUE.on(valueParameterDeclaration))
+            }
+            if (parameter.isVararg) {
+                trace.report(ErrorsWasm.WASM_IMPORT_EXPORT_VARARG_PARAMETER.on(valueParameterDeclaration))
+            }
+            if (!isParameterTypeSupported(parameter.type)) {
+                trace.report(ErrorsWasm.WASM_IMPORT_EXPORT_UNSUPPORTED_PARAMETER_TYPE.on(valueParameterDeclaration, parameter.type))
+            }
+        }
+        val returnType = descriptor.returnType
+        if (returnType != null && !isReturnTypeSupported(returnType)) {
+            trace.report(ErrorsWasm.WASM_IMPORT_EXPORT_UNSUPPORTED_RETURN_TYPE.on(declaration, returnType))
+        }
+    }
+}
\ No newline at end of file
diff --git a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmInteropTypesChecker.kt b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmInteropTypesChecker.kt
index db78b450d6b..b17886a14cc 100644
--- a/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmInteropTypesChecker.kt
+++ b/wasm/wasm.frontend/src/org/jetbrains/kotlin/wasm/resolve/diagnostics/WasmInteropTypesChecker.kt
@@ -17,16 +17,18 @@ import org.jetbrains.kotlin.resolve.descriptorUtil.isEffectivelyExternal
 import org.jetbrains.kotlin.wasm.util.hasValidJsCodeBody
 
 // TODO: Implement in K2: KT-56849
-object WasmInteropTypesChecker : DeclarationChecker {
+object WasmExportAnnotationChecker : DeclarationChecker {
+    private val wasmExportFqName = FqName("kotlin.wasm.WasmExport")
+    private val jsExportFqName = FqName("kotlin.js.JsExport")
+
     override fun check(declaration: KtDeclaration, descriptor: DeclarationDescriptor, context: DeclarationCheckerContext) {
         if (descriptor !is FunctionDescriptor) return
-
-        if (!descriptor.annotations.hasAnnotation(FqName("kotlin.wasm.WasmExport"))) return
+        if (!descriptor.annotations.hasAnnotation(wasmExportFqName)) return
 
         val trace = context.trace
         val bindingContext = trace.bindingContext
 
-        if (descriptor.annotations.hasAnnotation(FqName("kotlin.js.JsExport"))) {
+        if (descriptor.annotations.hasAnnotation(jsExportFqName)) {
             val reportOn = descriptor.findPsi() ?: declaration
             trace.report(ErrorsWasm.JS_AND_WASM_EXPORTS_ON_SAME_DECLARATION.on(reportOn))
         }
@@ -40,5 +42,7 @@ object WasmInteropTypesChecker : DeclarationChecker {
             val reportOn = descriptor.findPsi() ?: declaration
             trace.report(ErrorsWasm.NESTED_WASM_EXPORT.on(reportOn))
         }
+
+        WasmImportAnnotationChecker.checkSignatureIsPrimitive(descriptor, trace, declaration)
     }
 }
\ No newline at end of file