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EU renews duty-free trade with Ukraine for one year

by The Kyiv Independent news desk May 25, 2023 5:02 PM 1 min read
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On May 24, the European Council adopted a regulation prolonging the EU's duty-free trade regime with Ukraine until June 2024.

The regulation renews the "suspension of all customs duties, quotas, and trade defense measures on Ukrainian exports to the EU."

“By renewing these measures, the EU is continuing to demonstrate its unwavering political and economic support for Ukraine, which is still facing Russia’s unprovoked and unjustified military aggression,” the European Council’s press release said.

“The measures will help Ukraine to maintain the stability of its trade relations with the EU and to keep its economy going under very challenging circumstances.”

The European Parliament approved the proposal on May 9 with an overwhelming majority of 537 deputies voting in support.

The measure will be signed by a representative of the Council and the European Parliament before entering into force on June 6.

Ukraine’s agricultural exports have previously caused a rift between Kyiv and several European countries.

On May 2, the European Commission adopted a resolution to ban the import of select agricultural products from Ukraine to Bulgaria, Hungary, Poland, Romania, and Slovakia. The governments of the listed countries complained that the cheap imported products created pressure on their own farmers and domestic markets.

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