The European Commission has proposed the suspension of annual import duties on Ukrainian goods

Update: 04/27/2022 15:08
Released:

Brussels – The European Commission (EC) has proposed the annual suspension of import duties on all Ukrainian goods and the lifting of all anti-dumping measures and EU safeguards on Ukrainian steel. Its purpose was to help the Ukrainian economy during the war with Russia. It follows from today notice OAK. For this measure to take effect, it must be approved by the European Parliament and the governments of the European Union countries.

“This broad measure is intended to help increase exports from Ukraine to the EU. This will help alleviate the difficult situation of Ukrainian producers and exporters in the face of a Russian military invasion,” the commission said.

Ukrainian shipping across the Black Sea is now cut off by the Russian navy. The EU is therefore also seeking to assist in the ground transportation of Ukrainian goods and liberalize conditions for Ukrainian truck drivers, facilitating transit and enabling the use of EU infrastructure.

Ukraine and the EU have had a free trade agreement since 2016, which has removed most of the trade barriers between the two countries. Based on this agreement, certain duties and quotas in certain categories of goods will be removed or removed from the agreement. The European Union is now proposing to temporarily lift these restrictions.

Earlier this week, Britain announced it would reduce tariffs on all goods from Ukraine to zero.

The EU is Ukraine’s largest trading partner, accounting for more than 40 percent of total trade in 2019. According to the European Commission (EC), the total value of trade between the EU and Ukraine in 2019 was 43.3 billion euros (1.1 trillion CZK), while exports to the EU reached 19.1 billion euros. Last year, the total value of trade increased to 52 billion euros, double the value before the entry into force of the free trade agreement.

Ukraine’s main exports include iron, steel and agricultural products. According to the World Bank (WB), the Ukrainian economy will decline by more than 40 percent this year because of the war. This is partly because Russia blocked the country’s ports, so trade relations were crippled.

EU Russia Ukraine fights economic customs

Roderick Glisson

"Tv nerd. Passionate food specialist. Travel practitioner. Web guru. Hardcore zombieaholic. Unapologetic music fanatic."

Leave a Reply

Your email address will not be published.