EU has preliminarily agreed to extend trade privileges for Ukrainian exports
EU ambassadors have tentatively agreed to extend the suspension of import duties and quotas on Ukrainian exports for another year.
The EU Council now has a mandate to negotiate a proposal that could extend the suspension of import duties and quotas on Ukrainian exports for another year.
The EU ambassadors reportedly approved the European Commission’s proposal to extend Ukraine’s preferential trade without changes. This proposal provides for the suspension of import duties and quotas for another year, until June 5, 2025, but also contains safeguards for agricultural products to protect the EU market from falling prices.
In addition, the EU Permanent Representatives supported the European Commission’s proposal to suspend import duties and quotas for Moldova for another year – until July 24, 2025 – and with safeguards for agricultural products.
Next, the proposal must be approved by the European Parliament – first in the relevant committee, which is expected on March 7, and at the plenary session in April.
The regulation must then be adopted by the EU Council, signed by representatives of the EU Council and the European Parliament, and published in the EU’s Official Journal.
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