Ukraine plans to sign an agreement on access to the EU market by the end of the year

UkrAgroConsult

Despite the war, Ukraine increased its exports to the EU last year to $27.9 billion. This was achieved through trade liberalization – the abolition of quotas and duties, as well as automobile permits for the period of martial law.

This was stated on television by First Vice Prime Minister and Minister of Economy Yulia Svyrydenko, according to the Ministry of Economy.

“All the steps taken by the European Union to liberalize trade with Ukraine have made it possible to direct most of the trade to the EU market. According to the results of 2022, 55% of mutual trade turnover was accounted for by European countries. We will continue to work to ensure that the EU extends the regulations that allow Ukraine to trade without quotas and tariffs. Given the conditions in which Ukrainian business operates, this would be a very significant support for Ukraine on the economic front,” said Yulia Svyrydenko.

She also noted that this is an intermediate stage between the Free Trade Agreement and full EU membership. First of all, it means equal rights of Ukraine with other EU member states in all areas – movement of goods (Agreement on Access of Ukrainian Goods to the EU Market (ACAA)), telecommunications, energy, customs, food safety, etc.

“Ukraine plans to sign the ACAA Agreement by the end of the year. This means that all industrial production will operate according to EU rules, which means that it will be profitable for European businesses to locate production for the EU market in Ukraine,” the ministry said in a statement.

Tags: Ukraine, EU