EU backed one-year suspension of import duties on all Ukrainian exports

Source

APK-Inform

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On May 19, European Parliament backed a one-year suspension of EU import duties on all Ukrainian exports, to support the country’s economy.

This temporary trade liberalisation, endorsed by 515 votes, is a response to the impact of Russia’s war against Ukraine, which is hampering the country’s ability to trade. The measures were expedited to enable today’s adoption in plenary. They will fully remove import duties on industrial products, entry duties on fruit and vegetables, as well as anti-dumping duties and safeguard measures on steel imports for a period of one year.

Taras Vysotsky First Deputy Minister of Agrarian Policy of Ukraine said that most of the restrictions and quotas under the agreement on free trade zone with the EU primarily covered agricultural and food products. The quota for honey used to be exhausted in two weeks, for poultry meat, tomato paste, apple juice, grains and oilseeds - in a few months. For dairy products, the quota was much less than Ukrainian production capacity.

“Therefore, the suspension of the duties is a very significant signal for an active increase in exports, primarily value-added products, which will make our products more competitive, because some duties increased the price of products by 50% or even doubled it. Definitely, this is a historical chance for Ukrainian agriculture”, – T. Vysotsky said.
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