Business news from Ukraine

Business news from Ukraine

European Commission may review regime of trade measures for Ukraine after June 5

The European Commission may reconsider the regime of autonomous trade measures for Ukraine, which was introduced after the start of Russia’s full-scale aggression, extended twice for a year and now expires on June 5 this year, European Commission Vice-President Maroš Šefčovič said.

“Autonomous Trade Measures (ATMs), which provide for traditional liberalization, will remain in force until June 5. I would like to assure you that after the end of the ATC, we are fully committed to ensuring a smooth transition and rapid implementation of mutual liberalization of trade in agri-food products,” he said at a joint meeting of the Ukrainian government and the European Commission on Monday.

“As you know, this will be a very delicate task for us, given the sensitivity of some products for the markets of our member states and, of course, the concerns of our farmers,” added Šefčovič, who in the new EC composition oversees the direction of trade.

As reported, the EU Council on April 8 approved a decision to extend the suspension of import duties and quotas on Ukrainian exports to the EU until June 5, 2025. At the same time, the EU strengthened the protection of sensitive agricultural products of member states, obliging the European Commission to impose tariff quotas on poultry meat, eggs, sugar, oats, corn, cereals and honey from Ukraine, in case of exceeding the arithmetic average of the volumes imported in the second half of 2021, 2022 and 2023.

 

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