WASHINGTON (dpa-AFX) - The European Union decided to extend the suspension of import duties and quotas on Ukrainian exports to the 27-nation bloc for another year.
The so-called Autonomous Trade Measures, or ATMs, have been in place since June 2022, a few months after Russia invaded Ukraine. It is a key pillar of the EU's unwavering support for Ukraine, providing a lifeline to the country's economy through access to the EU market.
In addition, an emergency brake applies to eggs, poultry, sugar, oats, maize, groats, and honey, which will be automatically triggered if import volumes reach the average yearly imports recorded between 1 July 2021 and 31 December 2023. The European Commission's Directorate-General for Trade on Monday published those import volumes.
The Commission said it is taking the necessary steps, through consultations with Ukraine under Article 29 of the EU-Ukraine Association Agreement, to agree on longer term reciprocal tariff liberalization. This process aims to provide economic certainty and a stable framework for trade to both Ukraine and the EU, as well as to farmers and businesses. This would also represent an important step forward for Ukraine's reconstruction and further integration into the EU internal market, with the ultimate goal of securing the country's future accession to the Union.
The new ATMs will enter into force on June 6, and will be in effect until 2025 June 5.
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