EU ministers adopt temporary trade liberalisation with Ukraine

The Council of the European Union adopted on May 24 a regulation allowing for temporary trade liberalisation and other trade concessions with regard to certain Ukrainian products, meaning that for one year import duties on all Ukrainian exports to the EU will not be due.

“Thanks to these measures the EU will be able to significantly support Ukraine’s economy,” the Council of the EU said.

It said that Russia’s unprovoked and unjustified war of aggression against Ukraine has had a devastating impact on the country’s production capacity, transport infrastructure and access to the Black sea, as well as its wider ability to trade with the rest of the world.

“The consequences cannot be underestimated both internally, and internationally, in terms of impact on food security,” the statement said.

The decision will apply for a period of one year, and will suspend in particular all tariffs under Title IV of the Association Agreement between the EU and Ukraine establishing a deep and comprehensive free trade area (DCFTA) that had not yet been liberalised.

The suspension covers, notably, industrial products subject to duty phase out by the end of 2022, fruits and vegetables subject to the entry-price system, and agricultural products and processed agricultural products subject to tariff-rate quotas.

The decision also suspends the collection of anti-dumping duties on imports originating in Ukraine, and the application of the common rules for imports with respect of imports originating in Ukraine.

As The Sofia Globe reported at the time, the European Parliament voted on May 19 to approve the decision.

For The Sofia Globe’s continuing coverage of Russia’s war on Ukraine, please click here.

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