The Council of the European Union has approved the suspension of import duties and quotas on Ukrainian and Moldovan exports to the European Union for another year.
Once again, such a decision demonstrates the EU’s unwavering political and economic support for Ukraine. At the same time, the approved decision provides for the protection of EU farmers with regard to imports of certain agricultural products.
As Russia’s war of aggression and the economic challenges it poses to Ukraine continue, the EU keeps providing its comprehensive support, including through trade instruments. Assistance from the EU strengthens Ukraine’s ability to export its products, thus ensuring the maintenance of economic activity and support to its national budget.
In view of the significant loss of markets in Russia, Belarus and Ukraine and the dependence of exports on transit through the Ukrainian territory, Moldova’s economy is also facing significant challenges since the start of the Russian war, with particular loss being felt in agricultural exports.
The EU’s autonomous trade measures (ATMs) for Ukraine will apply from 6 June 2024 until 5 June 2025 and for Moldova – from 25 July 2024 until 24 July 2025.
In addition, with regard to imports from Ukraine, two safeguard mechanisms to protect the EU market will function during this period:
- a reinforced safeguard mechanism that covers all goods and allows for quick remedial action to be taken in case of significant disruptions to the markets of one or more Member States;
- an automatic safeguard mechanism which will oblige the European Commission to reintroduce quotas if imports of poultry, eggs, sugar, oats, maize, groats and honey exceed the arithmetic mean of quantities imported in the second half of 2021, in 2022 and in 2023.
The decision was adopted on 13 May 2024.