KYIV. Jan 6 (Interfax-Ukraine) – Ukraine’s Ministry of Economic Development and Trade has promulgated new import duty rates for goods from the European Union, which came into effect on January 1, 2016 in connection with the entry into force of the free trade area (FTA) between Ukraine and the EU.
According to the agency, the EU reduced import duty rates for Ukraine to the level of the first year of the FTA in 2014 within autonomous trade preferences, therefore the functioning of the deep and comprehensive free trade area marks the beginning of Ukraine’s reducing import duties on goods from the EU.
The ministry also notes that in parallel with the free trade regime, the GSP preferential regime, which Ukraine has been using in exports to the EU for many years, will be valid for another two years.
As reported, the agreement on a deep and comprehensive free trade area between Ukraine and the European Union came into force on January 1, 2016 after a one-year pause the parties took at Russia’s request for consultations with the country, which failed.
