Ukraine initiates revision of trade rules with EU in Association Agreement
Ukraine wants the trade regime with the EU with the complete abolition of duties to be enshrined in the Association Agreement with the European Union.
Source: Ukraine's Prime Minister Denys Shmyhal on Wednesday at a briefing with EU chief diplomat Josep Borrell in Kyiv
Details: "We certainly welcome the European Commission's decision to extend the complete cancellation of duties on Ukrainian products until June 2025. Together with the Association Agreement, this decision will provide Ukraine with the so-called 'economic visa-free regime'," Shmyhal said.
He added that Kyiv not only expects this initiative to be quickly approved by all EU institutions but also considers it important to enshrine such a completely free trade regime in the Association Agreement itself.
"This is one of the main areas of our work this year in trade relations with the EU... I hope that the relevant negotiations can be announced during the Association Council [session]," Shmyhal added.
He also acknowledged that too sudden changes in trade flows can cause misunderstandings. "Therefore, our common task is to ensure open and barrier-free trade that will meet the interests of both Ukrainian and EU producers," he concluded.
Background:
- The European Commission recommended extending the full opening of the EU market to Ukrainian products, including agricultural ones, for another year.
- This decision was made in unprecedentedly unfavourable circumstances for Ukraine.
- Five EU countries approached the European Commission with a proposal to impose EU-wide restrictions on the export of Ukrainian grain, maize and oil. Four of these countries – Poland, Hungary, Slovakia and Bulgaria – have imposed unilateral restrictions on Ukrainian agricultural products, with farmers from these countries claiming large-scale losses due to Ukrainian dumping.
- The current preference regime for Ukraine is set to expire on 5 June. However, this decision must be approved by the European Parliament and the European Council in order for the preferences to be extended.
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