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• Proposal needs to be passed by European Parliament and EU Council
• Once approved suspension of import tariff will be valid for one year
The European Commission on Wednesday proposed to suspend import duties on all goods from Ukraine not covered by an existing free trade deal for a year to help boost the country’s economy amid the Russian invasion.
The measures will apply mainly to fruit and vegetables, subject to minimum price requirements, agricultural products, and certain industrial goods.
The tariffs on the goods were set out in the 2016 EU-Ukraine free trade agreement apply to fertilizers, aluminum products, and cars and are due to be phased out by the end of 2022.
The European Union will also exempt Ukraine from safeguard measures that limit steel imports and lift anti-dumping tariffs.
“Russia’s unprovoked and unjustified aggression is severely affecting the Ukrainian economy. I have been in discussions with President Zelensky on ways of supporting the economy, beyond the macro-financial assistance and grants we are providing,” EC President Ursula von der Leyen said.
“The step we are taking today responds to this call. It will greatly facilitate the export of Ukrainian industrial and agricultural goods to the EU.”
The proposal now needs to be considered and agreed upon by the European Parliament and the Council of the European Union, which constitutes 27-member nations.
“Since the start of Russia’s aggression, the EU has prioritized the importance of keeping Ukraine’s economy going – which is crucial both to help it win this war and to get back on its feet post-war,” Commission Vice President and Trade Commissioner Valdis Dombrovskis said.
The United Kingdom on Wednesday also announced its decision to get rid of all tariffs and eliminate all quotas on imports from Ukraine.
Picture Credit: FT
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