Ukraine will lose more than 300 million euros in case of adoption of the updated agreement on duty-free trade with the EU

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Published Mar 29, 2024

Tridge summary

The EU Council has updated the draft agreement for extending duty-free trade with Ukraine, incorporating demands from Poland and France. This revision includes using the latter half of 2021, along with 2022 and 2023, as the reference period for calculating Ukrainian agricultural product supplies, a move opposed by Ukraine and some EU states. This adjustment is projected to cause Ukraine a loss of 86 million euros, based on 2021's data, with total restrictions leading to a 331 million euro loss. Despite opposition from countries like Germany, the Netherlands, and the Baltic states, the revised agreement has found support from Italy, Hungary, and Austria among others.

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

The EU Council updated the draft agreement, which provides for the extension of duty-free trade with Ukraine. In the updated version of the draft agreement, the requirements of Poland and France are partially taken into account, namely, the base period that will be taken into account when determining the volume of supplies of Ukrainian agricultural products has been updated. It is proposed to focus not only on 2022 and 2023, but also on the second half of 2021. Radio Liberty writes about this. Ukraine, which was supported by a number of EU states, opposed this, advocating for giving it the opportunity to independently earn money by selling, in particular, its agricultural products. The previous draft of the agreement, agreed with the European Parliament, provided that the quotas for the next period, which will begin in June this year, will be calculated based on the volume of Ukrainian agricultural imports for 2022-2023, when benefits were already in effect for it - the absence of ...

Source: Agravery