The EU Council has agreed to expand zero-tariff trade quotas for a range of Ukrainian agricultural and industrial products.
The measure is expected to result in increased revenues for Ukrainian companies of around €170 million over the next three years.
The quota increases will come into force at the end of September this year and add to the trade provisions that have existed since 1 January 2016 under the Association Agreement Ukraine has with the EU.
More maize, barley tomatoes, honey…
Zero-tariff quotas for the following agricultural products will increase by (all figures measured in tonnes per year):
- Maize 625 000
- Barley 325 000
- Wheat 65 000
- Cereal groats and pellets 7 800
- Oats 4 000
- Processed tomatoes 3 000
- Natural honey 2 500
- Grape juice 500.
Duties lifted on fertilisers, shoes, copper…
Import duties will also be fully removed from several important industrial products, including:
- Dyes, pigments and other colouring substances
- Aluminium, and
- TV and recording equipment.
Benefiting Ukrainian exporters
The Ukrainian Ministry of Agrarian Policy and Food estimates the new measures will benefit Ukrainian companies, many of them SMEs, to the tune of US$197m (over €170m).
And Sven Mikser, Foreign Minister of Estonia, which currently holds the rotating six-month EU Council presidency, said: ‘With (this) 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.’