14:31 17.07.2017

EU Council approves additional trade preferences for Ukrainian agricultural goods

The Council of the European Union on July 17, 2017 adopted a set of temporary autonomous trade measures in favor of Ukraine, a report on the website of the European Council reads.

"With today's decision, we are allowing more Ukrainian products to be exported to the EU. It is our duty to support Ukraine and strengthen our economic and political ties, also in the face of the ongoing conflict on its soil," Sven Mikser, the Minister for Foreign Affairs of Estonia, which currently holds the Council presidency, said.

"The proposal is aimed at improving access for Ukrainian exporters to the EU market, in view of the difficult economic situation and the economic reform efforts undertaken by Ukraine," the document says..

According to the Facebook report by Deputy Minister of Economic Development and Trade, Ukraine's Trade Representative Natalia Mykolska, the said decision also provides for an accelerated liberalization of trade in certain types of industrial goods - footwear, copper and aluminum products, liquid crystal displays.

As reported, following the negotiations between the European Commission, the Council of the European Union and European Parliament members, the European Parliament International Trade Committee (INTA) proposed raising quotas for Ukrainian honey by 2,500 tonnes, processed tomatoes by 3,000 tonnes, grape juice by 500 tonnes, oats by 4,000 tonnes, wheat by 65,000 tonnes, corn by 625,000 tonnes, barley by 325,000 tonnes, and cereals by 7,800 tonnes.

According to the Ministry of Agrarian Policy and Food, annual revenues from exports of Ukrainian agricultural products could rise by $160 million due to additional trade preferences of the EU.

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