EU to extend Ukraine trade support for another year

The European Union (EU) has moved closer to extending its trade support for Ukraine for another year, while concurrently strengthening safeguards to prevent the excessive import of certain products.

In a statement, representatives of EU governments and the bloc’s parliament announced a provisional agreement reached early Wednesday to prolong the suspension of import duties and quotas on Ukrainian exports to the EU until June 2025.

These trade measures have been aimed at bolstering Ukraine’s economy since its conflict with Russia, particularly in its crucial agricultural sector, which has been affected by the ongoing conflict, leading to blockages in some ports.

However, the EU has also enhanced protection for sensitive agricultural commodities such as sugar, corn, eggs, and poultry, instituting tariffs if imports surpass the average of the preceding two years.

Imports of crops from Ukraine have been a focal point of farmer protests across Europe in recent months, compounded by escalating costs and administrative complexities.

Last month, European farmers urged the European Parliament to restrict the scope of free trade measures, citing potential risks to the bloc’s economies and disruptions to the single market.

Among the most vocal protesters have been Polish farmers, who earlier this week initiated blockades on a key highway near the German border.

Before taking effect, the proposal necessitates approval from the European Parliament and member states.