07 June 2022 13:05
On 4 June 2022, Regulation 2022/870 of the European Parliament and of the Council on temporary trade-liberalization measures entered into force. This decision complements the opportunities available to Ukrainian exporters under the EU-Ukraine Association Agreement.
Now the tariffs stipulated in the Agreement will be temporarily suspended. We are talking about:
In turn, the liberalization of trade implies that Ukraine will adhere to European rules: origin of goods and relevant procedures under the Association Agreement, refrain from any new restrictions on imports from the EU, Ukraine's respect for democratic principles, human rights and fundamental freedoms, rule of law, fight against corruption. These new rules will be in force for a year and will help Ukrainian producers and exporters to withstand the brunt of the war and strengthen their position in the European market.
Currently, the EU is Ukraine's major trading partner. In 2021, the European Union accounted for 39% of our country's total trade. Turnover increased by 35% to $ 62.5 billion.
Ukraine exports to the European Union, primarily ferrous metals, ores, electric machines, oil and grain. Trade liberalization will help Ukrainian exporters strengthen their positions in these and other product niches.
Details at the link.
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