(MENAFN) European Union lawmakers have reached a preliminary agreement aimed at extending Kiev's duty-free access to European Union member states' markets, while simultaneously introducing limitations on a range of Ukrainian agricultural imports. The decision, which has been approved by European Union ambassadors, is poised to come into effect pending approval by a European Parliament committee scheduled to convene on Tuesday.
Under the terms of the agreement, the tariff exemptions initially granted to Kiev in 2022 following the onset of Russia's military intervention in Ukraine will be extended for an additional year, until June 2025. However, in a move to safeguard sensitive agricultural sectors within the European Union, Brussels has opted to implement "automatic safeguards" for certain products, including oats, corn/maize, groats, honey, eggs, poultry, and sugar. These safeguards would entail the imposition of tariffs on specified produce should imports exceed average levels from previous years.
The European Commission has proposed extending the reference period for assessing import levels to the second half of 2021, the year preceding the outbreak of the conflict. It is estimated that these new safeguards could potentially result in a reduction of Kiev's earnings by approximately EUR240 million (USD260 million) per year.
The decision to impose limitations on Ukrainian imports reflects ongoing concerns among European Union farmers, who have been staging protests against perceived threats to their livelihoods resulting from European Union agricultural policies. The move underscores the delicate balance between facilitating trade with Ukraine and safeguarding the interests of domestic agricultural producers within the European Union.
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