EU Council approved additional trade preferences for Ukraine
July 17, the
Council of the European Union approved the decision to provide autonomous trade
measures for Ukraine.
The EU, outside the framework of the free trade regime, will provide additional quotas for a range of important Ukrainian exports of agro-food products: honey, grains, processed tomatoes, grape juice, etc. Apart from that, the proposal stipulates for the accelerated liberalization of trade in footwear, copper, aluminum, liquid crystal displays, etc.
The decision of
the EU Council is the final step necessary to formally adopt the legislative
initiative of the European Commission on additional trade preferences that will
come into force from September 2017.
"The decision
of the EU Council will improve the access for Ukrainian exporters to the
European market. We will continue our work on creating opportunities for
Ukrainian businesses in the EU market", summed up Deputy Minister of
Economic Development and Trade of Ukraine, Trade Representative Natalia Mykolska.
Background
September 29,
2016, the European Commission published a draft legislative initiative on
introducing additional trade preferences for goods originating in Ukraine. The
bill envisages the introduction of additional annual import quotas at
zero tariff for Ukrainian
agricultural products (tariff line 31), as well as full removal of
import duties on several industrial
products (22 tariff lines).
July
4, 2017, the European Parliament approved additional trade preferences for
Ukraine.