EU considering abolition of tariffs, quotas on Ukrainian exports this week

The European Union is considering removing all remaining tariffs and quota requirements on Ukrainian exports under the Association Agreement and an announcement could come as early as this week, Bloomberg reported citing sources.

According to the report, the proposal would also include the temporary removal of existing tariffs and quotas on steel, industrial goods and agricultural products that are currently not covered by the EU's trade agreement with Ukraine.

Ukraine and the EU have had a free trade deal in place since 2016, which eliminated most trade barriers between the two. Under those arrangements, some tariffs and quotas on several categories of goods are due to be phased out over time or are excluded from the agreement. The EU is now proposing to temporarily lift those restrictions.