EU COMMISSION PROPOSES EXTENSION OF TRADE SUPPORT MEASURES FOR UKRAINE AND MOLDOVA
On 31st January, the European Commission has announced its proposal to extend the suspension of import duties and quotas on Ukrainian exports to the EU for an additional year. This move, in line with the EU's commitment to support Ukraine indefinitely, aims to continue alleviating the challenges faced by Ukrainian producers and exporters due to Russia's ongoing war.
Since June 2022, the Autonomous Trade Measures (ATMs) have been a crucial component of the EU's support, ensuring stable trade flows from Ukraine despite significant disruptions caused by the war. The renewed ATMs, while primarily supporting Ukraine, also consider the concerns of EU farmers and stakeholders. A reinforced safeguard mechanism is included to address any significant market disruptions in the EU or its Member States. For sensitive products like poultry, eggs, and sugar, an "emergency brake" will maintain imports at the average volumes recorded in 2022 and 2023, with tariffs reimposed if these levels are exceeded.
Simultaneously, the Commission proposes to extend the suspension of duties on Moldovan imports for another year. Moldova's exports have been impacted by the conflict, as they often relied on transit through Ukraine. The proposals will now be reviewed by the European Parliament and the Council. The objective is a seamless transition to the new regime by June 5, 2024, for Ukraine and July 24, 2024, for Moldova.
Source: European Commission