On Monday July 17, the Council of the European Union approved temporary trade preferences for Ukraine, European Pravda reports with reference to a press release from the EU Council.
“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, Minister for Foreign Affairs of Estonia stated.
These measures will enter into force in September 2017 and will be applied within three years.
Earlier QHA reported that preferences for the export of some types of Ukrainian products to the EU markets, approved by the European Parliament, had become a symbolic gesture of support of Ukraine in the difficult economic situation in the country.
On July 4, the European Parliament supported the proposal of the European Commission to provide Ukraine with additional trade preferences. In particular, the following annual quotas are established: for honey - 2,5 thousand tons, tomatoes processed - 3 thousand tons, wheat - 65 thousand tons, maize - 625 thousand tons, barley - 325 thousand tons.
Preferences will be introduced for up to three years as a supplement to the Deep and Comprehensive Free Trade Area Agreement.