News

EU: agreement on trade support for Ukraine with greater protection for farmers

Ukraine
Regulation & Compliances
Published Apr 12, 2024

Tridge summary

The European Parliament members and the Council Presidency have reached an agreement to continue the suspension of import duties and quotas on Ukrainian agricultural exports to the EU until June 5, 2025. This decision aims to support Ukraine's economy and facilitate its integration into the EU market. The agreement includes mechanisms for the European Commission to quickly address any market disruptions, particularly concerning sensitive products like poultry and wheat, through an emergency brake mechanism for certain agricultural goods. It also introduces enhanced safeguards and increased controls on cereal imports, especially wheat. Furthermore, the agreement sets the stage for discussions on permanent tariff liberalization with Ukraine as part of the Association Agreement review process. The final approval from the Parliament and the Council is awaited, with the new regulations expected to be implemented immediately after the current trade measures expire on June 5, 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

MEPs and the Council Presidency agreed to suspend import duties and quotas on Ukrainian agricultural exports to the EU for another year, until 5 June 2025. These unilateral trade liberalization measures will help stabilize the Ukrainian economy and will facilitate the country's gradual integration into the EU internal market. In the event of significant disruptions to the EU market or the markets of one or more EU countries due to Ukrainian imports, for example of wheat, the regulation ensures that the Commission can act quickly and impose whatever measures it deems necessary. As part of enhanced safeguard measures to protect EU farmers, an emergency brake can be activated for particularly sensitive agricultural products such as poultry, eggs, sugar, oats, semolina, maize and honey . Negotiators agreed to extend the reference period used as a basis for triggering this automatic safeguard, which means that if imports of these products exceed the average import volumes recorded in ...
Source: 3tres3
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