The European Commission, in its latest press release, has proposed to suspend import duties on all Ukrainian products for one year. The commission also proposed one-year exemption of all EU anti-dumping and safeguard measures on Ukrainian steel exports to support the country amid the war situation.
This step is taken to boost Ukraine’s exports to European Union. It will further help to reduce the difficulties faced by Ukrainian producers and exporters in the face of Russia’s military invasion.
European Commission President Ursula von der Leyen, said, “Russia’s unprovoked and unjustified aggression is severely affecting the Ukrainian economy. I have been in discussions with President Zelensky on ways of supporting the economy, beyond the macro-financial assistance and grants we are providing. We both agree on the critical importance of a quick and broad import duty suspension to boost Ukraine’s economy. The step we are taking today responds to this call. It will greatly facilitate the export of Ukrainian industrial and agricultural goods to the EU. We continue to stand by Ukraine in these dire times.”
European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis, said, “The EU has never before delivered such trade liberalisation measures, which are unprecedented in their scale- granting Ukraine zero tariff, zero quota access to the EU market. Since the start of Russia’s aggression, the EU has prioritised the importance of keeping Ukraine’s economy going – which is crucial both to help it win this war and to get back on its feet post-war. These measures will directly help Ukrainian producers and exporters. They will inject confidence into the Ukrainian economy and send a strong signal that the EU will to do whatever it takes to help Ukraine in its hour of need.”
The aggression of Russian military have had a devastating impact on Ukraine’s economy and its ability to trade with rest of the world considering the severe impact on its production and vital export routes. Hence, in these difficult times, EU is trying its best to help Ukraine to maintain its trade position and relations with the rest of the world and with the EU.
Moreover, the commission has already started liberalising the conditions for Ukrainian truck drivers transporting goods between Ukraine and the EU, as well as facilitating transit and the use of EU infrastructure to channel Ukrainian exports towards third countries. These measures will add much-needed flexibility and certainty for Ukrainian producers.
In 2021, Ukraine’s steel exports stood at 15.26 mnt, down 7% y-o-y, data maintained with SteelMint reveals.
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