The business community, united by the American Chamber of Commerce in Ukraine (the Chamber), is concerned about the potential risks associated with the possible return to the practice of imposing export duties and/or quotas on oilseeds.
The duty-free trade regime with the European Union (EU), which is the main buyer of Ukrainian oilseeds, is a guarantee of Ukraine’s rapid and successful recovery. At the same time, the introduction of customs or other trade restrictions by Ukraine could jeopardize negotiations on the renewal of the free trade area with the EU, in particular due to the risk of mirror restrictions on Ukrainian exports.
In addition, experts from the Chamber’s member companies consider it necessary to recall that the experience of introducing export duties on soybeans and rapeseed in 2017, which were subsequently abolished in 2020, showed that such measures do not lead to a significant increase in oil production. Instead, such restrictions cause financial losses for agricultural producers and lead to a corresponding reduction in oilseed crops.
Therefore, the Chamber calls on the Government and members of parliament not to allow the reintroduction of export duties and/or quotas on oilseeds and not to support such initiatives.
Source: https://interfax.com.ua/news/press-release/1080636.html
