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EU ambassadors approve extending trade benefits for Ukraine for one more year

Wednesday, 21 February 2024, 19:33
EU ambassadors approve extending trade benefits for Ukraine for one more year
Stock photo: Getty Images

Permanent representatives of the EU member states approved on 21 February the mandate of the European Council for the negotiations on the proposal to extend the suspension of import duties and quotas on Ukrainian exports for one more year.

Source: European Pravda with reference to the press service of the EU Council

Details: The EU ambassadors have reportedly approved the European Commission’s proposal concerning the extension of trade benefits for Ukraine with no changes.

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The proposal provides for the suspension of import duties and quotas for one more year until 5 June 2025, but at the same time contains safety measures for agricultural products in order to protect the EU market from price drops.

The proposal has to be approved by the European Parliament, first by the profile committee on 7 March, and then at the plenary meeting in April.

Then, the regulations must be approved by the EU Council, signed by the representatives of the EU Council and the European Parliament and published in the EU Official Journal.

Background:

  • At the end of January, the European Commission officially suggested extending the suspension of import quotas and duties on Ukrainian exports to the EU for one more year, along with safety measures for agricultural products, as demanded by several EU countries.
  • But this proposal did not satisfy farmers in the EU states bordering Ukraine, so they initiated protest actions, mainly in Poland.

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