EU lifted restrictions on trade with Ukraine

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Евросоюз

The Council of the European Union officially approved the decision on the temporary abolition of duties and quotas on Ukrainian goods, according to a statement on the website of the Council of the EU on Tuesday, May 24.

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 EU notes that Russia’s war against Ukraine has had a devastating impact on the country’s production capacity, transport infrastructure and access to the Black Sea, as well as wider opportunities for trade with the rest of the world.

According to the EU decision, for a year are suspended: all tariffs under Title IV of the Association Agreement between the EU and Ukraine, established by the deep and comprehensive free trade area (DCFTA), which 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 for imports originating from Ukraine.

The European Union is Ukraine’s most important trading partner, accounting for more than 40% of its total merchandise trade in 2021. In turn, Ukraine was the 15th largest trading partner of the EU, accounting for about 1.2% of the total EU trade.