Council of Europe approves temporary trade liberalization with Ukraine

According to this provision, for 1 year, import duties on all Ukrainian exports to the European Union (EU) will be removed.

Accordingly, all customs duties will be suspended under the Association Agreement between the EU and Ukraine establishing a comprehensive and extensive Free Trade Area that has not been liberalized. Specifically, industrial products will be eliminated from tariffs by the end of 2022; fruits and vegetables apply the input price system; agricultural products and processed agricultural products are subject to tariff quotas. Anti-dumping duty applied to import goods originating in Ukraine and the application of the general rules for imports in the case of origin from Ukraine.

On April 27, the European Commission (EC) presented a proposal for temporary trade liberalization in addition to trade concessions applicable to Ukrainian products under the Association Agreement between the EU and Ukraine. and the European Atomic Energy Community and its member states. On May 13, the European Council sent a letter to the European Parliament (EP) saying it agreed with the regulation, which was then voted on by a plenary vote on May 19. Thanks to these measures, the EU will be able to significantly support the Ukrainian economy.

The conflict between Russia and Ukraine has had a dramatic impact on Ukraine’s production capacity, transport infrastructure and access to the Black Sea, as well as its ability to trade in general with the rest of the world.

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