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EU Council approved new trade preferences for Ukraine

They come into force in September 2017 and will last for three years.

EU Council approved new trade preferences for Ukraine
Photo: Photo: Depositphotos\Marienko64

The Council of the European Union on July 17 approved new trade preferences for Ukraine. On its website, the Council said that the European Union provides Ukraine with additional quotas for honey, cereals, processed tomatoes, grape juice.

The policy envisages an accelerated liberalization of trade in some industrial goods - footwear, copper and aluminum products, LCD screens, Ukraine's trade representative Natalya Mykilska said on Facebook on Monday.

The quota for honey increased by 2,500 tons, processed tomatoes - 3000 tons, grape juice - 500 tons, oats - 4000 tons, wheat - 65 thousand tons, corn - 625 thousand tons, barley - 325 thousand tons, cereals and processed grain - 7800 tons.

Preferences come into force in September 2017 and will last for three years.

"By today's decision we allow to increase the export of Ukrainian goods to the EU. The support of Ukraine and the strengthening of economic and political ties are our responsibility, especially in the context of the ongoing conflict on its territory," said Foreign Minister Sven Mikser.

The decision of the EU Council completes the procedures for approving preferences.

The EU is Ukraine's largest trading partner, while Ukraine occupies only 0.8% of the EU's trade market.