Politics 2022-07-15T08:09:22+03:00
Ukrainian news
EU Council Endorses Expansion Of Trade Preferences For Ukraine

EU Council Endorses Expansion Of Trade Preferences For Ukraine

Ukraine, EU, EU Council, trade, preferences

The Council of the European Union has endorsed the expansion of trade preferences for Ukraine.

This is said in a posting on the website of the Council of the European Union, Ukrainian News Agency reports.

The posting reads that the EU Council adopted a set of temporary autonomous trade measures in favor of Ukraine on July 17. These measures should enter into force by the end of September and will apply for a period of three years.

The decision is the final step necessary to formally adopt the regulation. The European Parliament adopted the text on July 4, 2017.

The text should be published and enter into force shortly after the signature of the text by the co-legislators during the European Parliament's plenary session in September 2017.

As Ukrainian News Agency earlier reported, on July 4, 2017, the European Parliament approved the expansion of trade preferences for Ukraine.

The proposed measures, which apply for a three-year period, consist of additional import quotas at zero tariff for certain agricultural products ('tariff rate quotas' at 0%).

This decision to expand the quotas applies to natural honey (2,500 tons); processed tomatoes (3,000 tons), grape juice (500 tons), wheat (65,000 tons), maize (625,000 tons), groats and pellets of some cereals (by 7,800 tons), oats (4,000 tons), and barley (325,000 tons).

In addition, the decision provides for complete removal of import duties on several industrial products, such as fertilizers, dyes, pigments and other colorants, footwear, copper, aluminum, as well as equipment for television and sound recording.

In September 2016, the European Commission approved the decision to expand the European Union's trade preferences for Ukraine.

Больше новостей о: Ukraine EU EU Council trade preferences