Trade with the EU: what the cancellation of autonomous trade measures means for Ukraine.

Free trade regime between Ukraine and the EU

First Deputy Prime Minister - Minister of Economy Julia Svyrydenko stated that the free trade regime between the EU and Ukraine remains, but the additional liberalization by the EU in the form of autonomous trade measures is ceasing to operate.

'The lack of concessions from the EU regarding the revision of quotas affects trade worth $3.5 billion and may reduce revenue by $800 million. But this is the worst and most pessimistic scenario. In the world of trade, the final effect is always different...'

The Minister emphasized that all trade remains free, except for 40 categories of agricultural products that are subject to tariff quotas. For many goods, the restoration of quotas will not be a limitation, as trade volumes do not exceed tariff quotas.

The Minister stressed that even for goods that fall under the restored quotas, it will only partially affect trade volumes. For example, corn exports are sent to the EU duty-free, which allows for increased volumes. At the same Time, goods that are subject to new tariff quotas may experience reduced exports, such as sugar.

Minister Svyrydenko emphasized that for effective trade, it is important to complete negotiations to increase and eliminate quotas in the coming days to avoid potential problems for exporters.