Economy 2022-01-15T07:25:21+02:00
Ukrainian news
COREPER Endorses Political Agreement On Temporary Trade Preferences For Ukraine

COREPER Endorses Political Agreement On Temporary Trade Preferences For Ukraine

Ukraine, EU, European Parliament, agreement, COREPER, trade

The Committee of the Permanent Representatives (COREPER) of the European Union has endorsed the agreement reached between the Presidency and the European Parliament on temporary autonomous trade measures in favor of Ukraine.

The press service of the Council of the European Union announced this in a statement, Ukrainian News Agency reports.

"These measures are a gesture on our part of tangible political and economic support to Ukraine. Given the difficult situation Ukraine is currently facing, we hope to proceed swiftly with the implementation of this regulation," the press service quoted Christian Cardona, Minister for the economy, investment and small business of Malta, as saying.

"The proposal is aimed at improving access for Ukrainian exporters to the EU market, in view of the difficult economic situation and the economic reform efforts undertaken by Ukraine," reads the statement.

It adds to trade provisions already introduced under an EU-Ukraine Association Agreement signed in 2014. Those provisions have been provisionally applied since January 1, 2016.

"Applying for a three-year period, the proposed measures consist of: 1) additional annual import quotas at zero tariff for the following agricultural products ('tariff rate quotas' at 0%): Natural honey - 2500 tonnes; Processed tomatoes - 3000 tonnes; Grape juice - 500 tonnes; Oats - 4000 tonnes; Wheat - 65 000 tonnes; Maize - 625 000 tonnes; Barley - 325 000 tonnes; Groats and pellets of certain cereals - 7800 tonnes. 2) full removal of import duties on several industrial products, such as fertilisers, dyes, pigments and other colouring matters, footwear, copper, aluminium, as well as television and sound recording equipment," reads the statement.

The statement reads that Ukraine will be obliged to respect the same principles as under the association agreement. These include respect for democratic principles, human rights and fundamental freedoms and for the principle of the rule of law, as well as continued and sustained efforts with regard to the fight against corruption and illegal activities.

The statement reads that the European Parliament and the Council of the European Union will adopt the text by the end of July.

The document will be published and will take effect by the end of September 2017.

As Ukrainian News Agency earlier reported, in September 2016, the European Commission adopted a decision to increase trade preferences for Ukraine.

In early May 2017, the European Parliament's Committee on International Trade approved the expansion of trade preferences for Ukraine with some exceptions for agricultural products.

On June 20, 2017, the European Parliament's Committee on International Trade approved the granting of some additional trade preferences for agricultural and food products from Ukraine.

On June 21, 2017, Verkhovna Rada of Ukraine urged the European Parliament to adopt a bill extending trade preferences for Ukraine without any exceptions for agricultural products.

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