Council of the European Union approves temporary trade preferences for Ukraine

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Ukrinform
On Monday, the Council of the European Union approved temporary trade preferences for Ukraine.

This is stated in a press release by the Council of the EU.

"With today's decision, we are allowing more Ukrainian products to be exported to the EU. It is our duty to support Ukraine and strengthen our economic and political ties, also in the face of the ongoing conflict on its soil," Estonian Foreign Minister Sven Mikser said.

These measures should enter into force by the end of September and will apply for a period of three years, the report reads.

According to the press release, the proposal is aimed at improving access for Ukrainian exporters to the EU market, in view of the difficult economic situation and the economic reform efforts undertaken by Ukraine.

As reported, today's decision is the final step necessary to formally adopt the regulation. The European Parliament adopted the text on 4 July. The text should be published and enter into force shortly after the signature of the text by the co-legislators during the EP's plenary session in September.

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