European Parliament committee agree to extend trade liberalisation for Ukraine for another year

The European Parliament's Committee on International Trade endorsed the extension of trade liberalisation measures to support Ukraine and Moldova in the face of Russia’s war.

This is said in a press release published on the EP website, according to Ukrinform.

As noted, the decision on Ukraine was adopted by 26 votes, with 10 against and 1 abstention.

According to the document, it is proposed renew the temporary suspension of import duties and quotas on Ukrainian agricultural exports to the EU for another year, from 6 June 2024 to 5 June 2025, to support Ukraine amidst Russia’s continuing war of aggression against the country.

At the same time, the legislation empowers the Commission to take swift action and impose any necessary measures should there be significant disruptions to the EU market, or to the markets of one or more EU countries due to Ukrainian imports.

It also provides for an emergency brake for particularly sensitive agricultural products, namely poultry, eggs, and sugar, meaning that if imports of these products surpass the average 2022 and 2023 volumes, tariffs would be re-imposed.

In a separate vote on Thursday, MEPs agreed that all duties on imports from Moldova should be suspended for another year, by 28 votes, 2 against and 6 abstentions.

The European Parliament is expected to vote on its first reading position during next week’s plenary session. If Parliament adopts its first reading position, the Council will then formally approve the regulation, and it will enter into force after being published in the EU Official Journal.

As reported by Ukrinform, in January 2024, the EU Commission proposed that import duties and quotas on Ukrainian and Moldovan exports should be suspended for another year.

The EU's autonomous trade measures for Ukraine were introduced on June 4, 2022 to support the Ukrainian economy. According to the European Commission, in the 12 months to October 2023, total Ukrainian imports to the EU amounted to €24.3 billion, up €0.3 billion compared to 2021.

Trade liberalisation was introduced within the framework of tariff liberalisation envisaged by the EU-Ukraine Association Agreement and the establishment of the Deep and Comprehensive Free Trade Area.