The UK has decided to extend duty-free trade with Ukraine for almost all goods until 2029, ensuring Kiev continues to enjoy favorable trading conditions even after Russia invades.
According to the UK Department for Business and Trade, duty-free trade will continue for all goods except eggs and poultry. Duty-free trade in these goods will be extended for two years.
British companies would also benefit from the removal of tariffs on exports to Ukraine, it said.
“This agreement provides much-needed long-term economic support for Ukraine, its businesses and its people, which is vital to the country’s recovery,” said Junior Trade Secretary Greg Hands, adding that British support would last as long as necessary to continue.
Britain has supported Ukraine's military efforts by providing weapons and aid as well as favorable trading conditions, including a new digital trade agreement.
As a reminder, the UK has lifted all tariffs and restrictions on Ukrainian exports under the free trade agreement, which was due to take full effect for Ukraine from 2023. The tariffs were initially lifted for 12 months, but have now been extended.
Later, the Verkhovna Rada ratified the Agreement on the abolition of import tariffs and tariff quotas in bilateral trade between Ukraine and the United Kingdom. In particular, thanks to the abolition of import duties and tariff quotas, Ukraine will be able to increase its exports of high value-added goods. These are flour, dairy products, poultry meat and semi-finished products, tomato paste, juices, sugar, etc. It is these goods that Ukraine traditionally exports to the United Kingdom.
Source: Ukragroconsult (Ukraine)