14:58 07 Mar 2024

EU Parliament supports extending Ukraine trade liberalization

The EU Parliament's Committee on International Trade approved the extension of trade liberalization measures to support Ukraine and Moldova, the press service reports.

The Parliament extends the temporary suspension of import duties and quotas on exports of Ukrainian agricultural products to the EU for another year to support Ukraine in war.

The legislation empowers the EU Commission to "take prompt action and introduce any necessary measures in the event of significant disruptions in the EU market or the markets of one or more EU countries due to Ukrainian imports."

The EU Parliament is to vote on this position in the first reading at its plenary session next week. The EU Council will formally approve the regulation, and it will enter into force after publication in the EU's Official Journal.

In January, the Commission proposed to extend the so-called autonomous trade measures for goods produced in Ukraine and Moldova for another year, which means the continuation of the trade liberalization regime between the EU and these countries.

The EU's autonomous trade measures for Ukraine were introduced on June 4, 2022, to support the Ukrainian economy.

According to the European Commission, during the 12 months to October 2023, the total volume of Ukrainian imports to the EU amounted to €24.3 billion. 

Trade liberalization was introduced as part of the tariff liberalization envisaged by the EU-Ukraine Association Agreement and the establishment of the Deep and Comprehensive Free Trade Area.

The new draft agreement on trade preferences between Ukraine and the EU, which the Commission intends to extend until June 6 next year, provides for restrictions on exports of Ukrainian sugar, poultry and eggs to the European market.

The EU Commission has previously stated that it does not see any significant negative consequences of Ukrainian agricultural exports for European markets.

However, Polish Minister of Agriculture Czeslaw Sekerski said that the Polish-Ukrainian border would not be opened for goods, and the embargo on their exports to Poland would be indefinite.

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