Agreement Extended to Boost Trade and Economy
Ukraine and the European Commission have agreed to extend the “transport visa-free regime” for one year, with an automatic extension until the end of 2025. This extension aims to facilitate seamless freight transportation between Ukraine and the European Union, eliminating the need for special permits.
Signing in Brussels
The agreement was signed friday in Brussels, with representatives from both Ukraine and the EU participating. The new terms will enhance the efficiency of freight transportation, thereby strengthening the economic ties between Ukraine and the European Union.
New Obligations for Transport Licenses and Truck Markings
The updated agreement includes several mutual obligations related to transport licenses and truck markings:
- Truck Markings: Trucks performing transportation under the Agreement must be appropriately marked.
- Transport Licenses: All drivers must carry a transport license or other confirming documents during transportation.
- Documentation for Carriers: Carriers traveling empty to pick up goods must have confirming documents for the goods they plan to import.
Economic Impact
The “transport visa-free regime” has significantly boosted Ukraine’s economy. Since the agreement’s initial implementation, Ukraine’s exports to the EU have increased by nearly 50% compared to the period before its signing. Prime Minister Denys Shmyhal emphasized the importance of this regime in facilitating the import of goods and components necessary for Ukrainian manufacturers.
This extension marks a crucial step in enhancing Ukraine’s trade relations with the EU. The increased export volume demonstrates the regime’s positive impact on the economy, providing Ukrainian manufacturers with the necessary resources to optimize their production processes.