Ukraine starts introducing European goods transit rules within systemic customs reform, according to a posting on the website of the Finance Ministry.

The relevant bill presented by the ministry was approved by the government: the document envisages bringing transit procedures in line with the EU Common Transit Convention and the EU Convention concerning the simplification of formalities in trade in goods.

Ukraine plans to apply types of declarations used in the EU for the common transit procedure in trade with the sides of the Convention.

Ukraine will use customs formalities using information and telecommunication systems based on European technologies and functioning on the international market.

The ministry said that the introduction of the European transit rules is a liability of Ukraine under the Ukraine-EU Association Agreement.

Ukraine's participation in the common transit regime would makes guarantees issued by Ukrainian banks valid on the territory of all Convention parties and will remove the necessity of declaring exported goods on the EU border (it will be done in Ukraine).

"The application of the European transit rules would help companies to use the single customs declaration and the only guarantee for moving goods. The movement of goods would be accelerated and cheapened. All participants of the delivery chain – exporters, carriers and importers – will win from this," the ministry said.

The ministry said that the ministry amended some customs information classifiers to provide for the test functioning of the new computerized transit system (NCTS) in Ukraine and brought tariff headings of some documents and types of customs declarations in line with European journals.