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One of the most important decisions for Ukraine: EU adopts new trade terms

Oleksandr LytvynNews
The EU supports Ukraine
The EU supports Ukraine

The European Parliament and the Council of the European Union have preliminarily agreed to extend trade liberalization with Ukraine. The temporary suspension of import duties and quotas on exports of Ukrainian agricultural products to the EU will be extended for another year, until June 5, 2025.

This is stated in the publication of the European Parliament. At the same time, the European Commission may impose restrictions that it deems necessary if there are significant disruptions in the EU market or the markets of one or more EU countries due to Ukrainian imports. The Regulation also provides for an emergency brake on particularly sensitive agricultural products, namely poultry, eggs, and sugar. MEPs succeeded in expanding this list to include oats, corn, cereals, and honey .

They also obtained a firm commitment from the European Commission to take action in the event of a surge in Ukrainian wheat imports. The baseline period for the emergency brake will be 2022 and 2023, which means that if imports of these products exceed the average volumes of these two years, tariffs will be reintroduced.

Speaker Sandra Kalniete said, "Today's agreement reinforces the EU's unwavering commitment to support Ukraine in the face of Russia's brutal war of aggression until Ukraine's victory." Now both the European Parliament and the EU Council will have to give the final green light to the temporary agreement. The current agreement expires on June 5, 2024. The new rules should come into force immediately after the expiration date.

As reported, Poland banned the import of rapeseed meal from Ukraine last year. However, the Poles still import it from Belarus. Poland also buys Russian agricultural products despite all the bans and sanctions.

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