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EU cancels duties on Ukrainian goods

03-04-2014 14:41

The EU has unilaterally eliminated customs duties on the export of Ukrainian goods to EU member states.

The decision will come into force in May and will be valid until November 1, 2014. This is stated in a European Parliament resolution passed on Thursday. "By reducing temporarily and unilaterally its trade barriers … on the imports of Ukrainian goods into the EU to level agreed bilaterally in the EU-Ukraine Deep and Comprehensive Free Trade Area (DCFTA), the proposal will help Ukrainian companies in increasing their exports' volumes and in diversifying their exports' destinations," reads an explanatory note to the document. The decision will help Ukrainian exporters save almost 500 million euros annually. As reported, on March 21, Ukraine and the EU signed the political parts of the Association Agreement. The signature of the economic part regarding the introduction of a deep and comprehensive free trade area has currently been postponed.