Source: the Council of the EU finally approved trade preferences for Ukraine

© RIA Novosti / Alexei Vitvitskiy in fotobanka Ukraine and the EU during the EU summit in Brussels. Archival photoSource: the Council of the EU finally approved trade preferences for Ukraine© RIA Novosti / Alexei Vitvitskiy the image Bank

The European Union finally approved new unilateral trade preferences for Ukraine, which are in addition to the free trade zone created within the framework of the Association agreement, reported RIA Novosti source in the EU, familiar with the issue.

«Just approved», — said the Agency interlocutor on the question of whether these additional trade preferences for Ukraine finally approved at the Council of Ministers of the European Union on agriculture on Monday.

According to EU rules, the approval passed without discussion. Plenary session of the European Parliament on 4 July approved a new temporary EU trade preferences for Ukraine.

Previously, the European Council announced that approval of these measures within the EU should be completed by the end of July. Trade preferences, which will last for three years, must earn by the end of September. Measures proposed by the EC about a year ago and accepted in the EU due to the complicated economic situation and efforts in the area of economic reforms undertaken in Ukraine, reported earlier by the press service of the EU Council.

Once trade preferences will come into force, Ukraine will receive additional annual quotas for duty free import into the EU of a number of agricultural products. We are talking about corn (625 thousand tons), barley (325 thousand tonnes), wheat (65 thousand tons), oats (4 thousand tons), and processed tomatoes (3 thousand tons), natural honey (2.5 thousand tons) and grape juice (500 tons), informed the Council of the EU. In addition, it is supposed complete withdrawal of import duties on some industrial commodities such as copper, aluminum, fertilizers, dyes, shoes, and equipment for television and audio recordings, said in a release from the Council.

Ukraine to obtain these privileges must follow the same principles as established in the framework of the Association agreement. They include respect for democratic principles, human rights and fundamental freedoms, as well as the continuation of the fight against corruption.

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