European Parliament supported the extension of duty-free trade for Ukraine
The European Parliament today, April 23, approved the extension of temporary trade liberalization measures for Ukraine, protecting EU farmers.
According to the Parliament, the decision to extend the suspension of import duties and quotas on Ukrainian agricultural products for another year, until June 5, 2025, was supported by 428 deputies, 131 were against, and 44 abstained.
According to the new regulation, the European Commission may take swift action and apply any measures it deems necessary if imports from Ukraine (e.g., wheat) cause significant disturbances on the EU market or the markets of one or more EU Member States.
“As part of the enhanced safeguard measures to protect EU farmers, the Commission may launch 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,” the statement said.
As part of the agreement on these new rules, the EC committed to start negotiations with Ukraine on permanent trade liberalization in the near future and to continue to closely involve the parliament in this process.
The EU Council now has to formally approve the regulations. The current trade measures expire on June 5, 2024, and the new regulations should enter into force immediately after that date.
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