The European Parliament approved the extension of temporary trade liberalisation measures for Ukraine until June 2025.
Decision of the European Parliament regarding trade with the EU and Ukraine
Members of the European Parliament supported the extension of the suspension of import duties and quotas for Ukrainian agricultural products for one more year until June 5, 2025.
Four hundred twenty-eight deputies voted for the adoption, 131 voted against it, and another 44 abstained.
According to the new regulation, the Commission can swiftly act and apply any measures it deems necessary if imports from Ukraine (e.g., wheat) cause significant disruptions in the EU market or the markets of one or more EU Member States.
The European Commission, as part of enhanced safeguards to protect EU farmers, may trigger emergency braking for susceptible agricultural products, namely poultry, eggs, sugar, oats, cereals, corn and honey.
It is noted that if these goods' imports exceed the average import volumes recorded in the second half of 2021 and for the whole of 2022 and 2023, the tariffs may be re-imposed.
As part of the agreement on these new rules, the Commission promised to start negotiations with Ukraine on permanent trade liberalisation in the near future and to continue closely involving the Parliament in this process.
Why was the import of agricultural products from Ukraine limited?
In March, the European Parliament considered the European Commission's proposal on the liberalization of trade with Ukraine but then decided that the document should be amended.
MEPs called for stronger guarantees for farmers in the case of many Ukrainian products.
Politico writes that as a result of the new agreement, Ukraine will lose 1.2 billion euros in trade income.
