Wednesday, May 18, 2022

EU to suspend all duties on imports from Ukraine for 1 year

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The European Commission has proposed suspending import duties on all Ukrainian exports to the European Union for one year.

The proposal, which the Commission termed “an unprecedented gesture of support for a country at war.’’

It would also see the suspension for one year of all EU anti-dumping and safeguard measures in place on Ukrainian steel exports.

It is designed to help boost Ukraine’s exports to the EU and help alleviate the difficult situation for Ukrainian producers and exporters in the face of Russia’s military invasion.

“The EU has never before delivered such trade liberalisation measures, which are unprecedented in their scale.

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“Also granting Ukraine zero tariff, zero quota access to the EU market.’’

EU Trade Commissioner Valdis Dombrovskis said on Wednesday.

Ukrainian President Volodymyr Zelensky spoke of “an important decision.’’

“Right now, this will allow us to maintain the economic activity in Ukraine, our national production as much as possible,’’ he added in a statement on Telegram.

The EU Parliament and the EU countries still have to approve the measure, and changes to the proposal were possible.

dpa/NAN

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