Business news from Ukraine

Business news from Ukraine

EC proposes to invite Ukraine to Common Transit Convention

The European Commission has put forward a draft EU proposal for Ukraine to be invited to join the Common Transit Conventions (CTC) – an international framework for the customs transit of goods that ensures simplified procedures between the EU and partner countries.
“Ukraine fulfils all relevant criteria for admittance to the Conventions, including legal, structural and IT requirements,” the draft EU proposal, adopted on Friday, says.
In the draft EU position paper adopted today, the Commission takes the view that “furthermore, accession to these Conventions is foreseen in the EU-Ukraine Association Agreement and in the EU’s pre-accession strategy for Ukraine.”
The Conventions mean that goods can move much more easily between the EU and the seven so called Common Transit Countries (Norway, Iceland, Switzerland, North Macedonia, Serbia, Turkey and the UK).
In this way, the simplified rules, such as mutually recognised financial guarantees for customs transit and less controls, help to cut down on costs for EU and partner country businesses, while facilitating and boosting trade, the European Commission said in a press release.
Once endorsed by the EU Council, the EU’s position will be put forward to the highest body of the Conventions, the EU-CTC Joint Committees, made up of the EU and other CTC signatories, which can then formally invite Ukraine to join the Conventions by as early as 1 October.

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