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New EU trade preferences for Ukraine come into force today
11:30, 1 October 2017
New EU trade preferences for Ukraine come into force today

The new trade preferences are the beginning of future duty-free exports for other products

11:30, 1 October 2017

112 Agency

Starting October 1, some of the agricultural produce exported from Ukraine to the EU stops being dutiable, according to the statement by the European Commission.

It is also noted that the new trade preferences will allow simplifying the importing of some industrial goods in the nearest future.

Related: EU-Ukraine free trade zone as nonequivalent trade exchange

“This is an important sign of the EU's continued, tangible economic and political support for the Ukrainian people, the country and its reform efforts. The EU Regulation on autonomous trade measures will top up the quantities of agricultural products that Ukraine can export to the EU under the Association Agreement without paying customs duties. It will also accelerate the elimination of EU import tariffs for several industrial products, as foreseen in the Association Agreement,” the statement says.

At the moment the preferences include just a few types of agricultural products. Duty-free export of Ukrainian wheat, barley, and corn will be possible starting January 1, 2018.

Related: Ukraine, Israel are at final stages of negotiations on Free Trade Area

“In terms of agricultural products, Ukraine will have an opportunity to export bigger quantities of wheat, maize, barley, oats and barley groats and pellets to the EU without customs tariffs. The proposal creates opportunities to export bigger amounts of processed tomatoes, natural honey and grape juice duty-free to the EU. These trade preferences will also benefit industrial sectors, for example Ukrainian producers of footwear, fertilisers, aluminium products and consumer electronics,” the statement adds.

The Free-Trade zone between the EU and Ukraine started working on January 1, 2016.

Related: Top ten facts about Canada-Ukraine Free Trade Agreement

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