The European Union has finally approved the extension of the 'trade visa-free regime' with Ukraine for another year, Ukrainian Prime Minister Denys Shmyhal has said.
“The EU has finally approved the ‘trade visa-free regime’ for Ukraine. This means duty-free and quota-free trade for another year. This is an important support for Ukrainian producers, exports and the economy. We continue our integration into the EU at an accelerated pace,” the Prime Minister wrote.
Thus, the above-mentioned trade regime between Ukraine and the EU will take effect from June 6 this year (the date of expiration of the current agreement) until June 5, 2025. The main difference between the new agreement is the right of the European Commission to “take prompt action” and apply any measures it deems necessary “if imports from Ukraine cause significant disruptions in the EU market or the markets of EU member states”.
Thus, as part of measures to protect EU farmers, the European Commission may impose an emergency brake for particularly sensitive agricultural products, namely poultry, eggs, sugar, oats, cereals, corn and honey. If imports of these products exceed the average import volumes recorded in the second half of 2021 and for the whole of 2022 and 2023, tariffs may be re-imposed.
