EU Extends Trade Support for Ukraine with Safeguards for EU Farmers
According to European Parliament’s press room ; In a significant move to bolster Ukraine amidst Russia’s ongoing aggression, the European Parliament and Council have reached a provisional agreement to extend trade liberalization measures until June 5, 2025. This agreement includes the temporary suspension of import duties and quotas on Ukrainian agricultural exports to the EU, providing critical support to Ukraine’s economy during these challenging times.
Ensuring Market Stability
Under this agreement, the European Commission retains the authority to swiftly impose necessary measures should there be any significant disruption to the EU market or the markets of individual EU countries due to Ukrainian imports. Additionally, safeguard measures have been reinforced to protect EU farmers in case of market disturbances, particularly for sensitive agricultural products like poultry, eggs, sugar, oats, corn, groats, and honey.
Emergency Measures for Vulnerable Sectors
Furthermore, an emergency brake mechanism has been established, allowing for the re-imposition of tariffs if imports of certain products exceed average volumes based on data from 2022 and 2023. This mechanism aims to prevent market imbalances and safeguard the interests of EU farmers against sudden surges in Ukrainian imports.
Commitment to Ukraine’s Victory
Rapporteur Sandra Kalniete emphasized the significance of this agreement, stating, “Tonight’s agreement reinforces the EU’s continued commitment to stand by Ukraine in the face of Russia’s brutal war of aggression until Ukraine’s victory.” She highlighted the impact of Russia’s aggression on both Ukraine and EU farmers and underscored the Parliament’s efforts to address concerns and strengthen safeguard measures.
Next Steps
Both the European Parliament and Council will need to give their final approval to the provisional agreement. The current suspension is set to expire on June 5, 2024, and the new regulations are expected to enter into force immediately following this expiration date. This agreement reaffirms the EU’s unwavering support for Ukraine’s sovereignty and stability amidst challenging geopolitical circumstances.
Background
The extension of trade support measures follows the EU’s implementation of autonomous trade measures in June 2022, allowing duty-free access for all Ukrainian products to the EU. These measures were extended by one year in 2023, and the latest agreement further solidifies the EU’s commitment to supporting Ukraine’s economic resilience and prosperity.
Source: Europarl
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