The EU extended the regime of duty-free trade with Ukraine for one year

The EU extended the regime of duty-free trade with Ukraine for one year

The Council of the EU adopted a regulation that extends the suspension of all customs duties, quotas and trade protection measures on Ukrainian exports to the EU for one more year, until June 2024.

This was reported in the Council of the EU, as “Europeyska Pravda” writes.

“By renewing these measures, the EU continues to demonstrate its steadfast political and economic support for Ukraine, which is still facing unprovoked and unjustified military aggression from Russia,” the message reads.

It is noted that these measures will help Ukraine maintain the stability of trade relations with the EU and support the economy in very difficult conditions.

Combined with extensive military, financial and humanitarian support, this is critical to helping Ukraine in its long-term recovery.

“Russia’s unprovoked and unjustified war of aggression against Ukraine has a devastating effect on the country’s economy. Renewed autonomous trade measures will clearly support Ukraine and at the same time give the EU the opportunity to protect the internal market from a significant increase in the import of some agricultural products,” said Johan Forssell, Minister of International Development, Cooperation and of foreign trade of Sweden, which presides over the Council of the EU.

The suspension of tariffs applies to fruits and vegetables subject to the system of input prices, as well as to agricultural unprocessed and processed products subject to tariff quota restrictions. Tariffs for industrial goods ceased to operate as early as January 1, 2023 under the terms of the Association Agreement.

Now that the regulation has been adopted, it will be signed by representatives of the Council and the European Parliament and published in the Official Gazette, after which it will enter into force on June 6.

European Parliament voted for continuation of duty-free trade with Ukraine for one more year in order to support the Ukrainian economy in the conditions of the May 9 war.

We will remind, on May 2 the European Commission adopted exceptional and temporary preventive measures on the import of certain agricultural goods from Ukraine after pressure from five member states of the European Union, which blamed Ukrainian imports for the collapse of local prices.

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