The EU will be able to significantly support the economy of Ukraine.
The Council of the European Union adopted a regulation allowing temporary trade liberalization and other trade concessions on certain Ukrainian goods.
This is stated in a statement on the website of the Council.
“This means that within one year the import duty on all Ukrainian exports to the European Union will not be paid. Thanks to these measures, the EU will be able to significantly support the economy of Ukraine,” the report says.
They noted that Russia’s war of conquest against Ukraine had a devastating impact on the country’s production capacity, transport infrastructure and access to the Black Sea, as well as on greater opportunities for trade with the rest of the world.
Today’s decision will be in effect for one year and will suspend, inter alia:
- all tariffs under Title IV of the Association Agreement between the EU and Ukraine established by the Deep and Comprehensive Free Trade Area (DCFTA) that have not yet been liberalized. The suspension includes, in particular: industrial products subject to phasing out until the end of 2022, fruits and vegetables subject to the entry price system, and agricultural products and processed agricultural products subject to tariff quotas;
- collection of anti-dumping duties on imports from Ukraine;
- application of general import rules regarding imports originating from Ukraine.
Recall that the European Parliament abolished EU import duties for Ukraine for a year.