The Council of the European Union has decided to extend the duty-free regime for exports from Ukraine by one year until mid-2024. It is reported about it on Rada's website.
- all tariffs under Section IV of the EU-Ukraine Association Agreement that have not yet been liberalised. This applies in particular to fruit and vegetables, which are subject to the entrance fee system, and agricultural products, which are subject to tariff quotas;
- anti-dumping fees;
- application of general import rules for import originating from Ukraine.
«Russia's unprovoked and unjustified war of conquest against Ukraine had a devastating impact on the country's economy. Updated autonomous trade activities will clearly support Ukraine while allowing the EU to protect the internal market from a significant increase in imports of certain agricultural products if necessary,” said Yugan Forssell, the Swedish trade minister, who now holds the presidency of the European Union.
The minister's comment refers to the European Commission's decision to introduce a partial embargo on imports of Ukrainian grain to Ukraine's five EU neighbors. The protective measures were introduced until June 5, but can be extended.
According to the European Business Association, the elimination of import duties by the European Union last year was one of the top three factors positively impacting Ukraine's investment climate in the military year 2022.
Ukraine is the EU's 15th largest trading partner, accounting for about 1,2% of total EU trade volume.
The European Union is Ukraine's largest trading partner.
In May 2022, the EU abolished tariffs and quotas on Ukrainian exports for a year. Back in June, they expressed hope in Ukraine that zero tariffs on Ukrainian goods in the European Union would last for more than a year. In February 2023, Ukraine asked the EU to extend duty-free trade until the end of 2024.
Source: Ukragroconsult (Ukraine)