EU Commission proposes to suspend import duties on all Ukrainian exports for one year

The European Commission on Wednesday, April 27, proposed a one-year suspension of import duties on all Ukrainian exports to the European Union. EU Commission also proposes a one-year suspension of all EU anti-dumping and safeguard measures on Ukrainian steel exports to support Ukraine amid the ongoing war. The EU Commission has taken the decision to help boost Ukraine's exports to the EU. The development comes as the war between Russia and Ukraine continues for day 63. 

According to the EU Commission, the decision will help in reducing the difficulties faced by Ukrainian producers and exporters amid Russia's military offensive. The proposal of the EU Commission regarding the suspension of import duties on all Ukrainian exports needs to be considered and approved by the European Parliament and the Council of the European Union. European Commission President Ursula von der Leyen stressed that Russia's aggression in Ukraine has "severely" affected the economy of the war-torn nation. Leyen stated that she has been discussing ways of supporting the economy, and macro-financial assistance with Ukrainian President Volodymyr Zelenskyy. 

Ursula von der Leyen highlighted that both of them agreed on the importance of suspension of import duty to boost the economy of Ukraine. She added that the decision of the EU Commission will facilitate the export of Ukrainian industrial and agricultural goods to the European Union. Valdis Dombrovskis, European Commission Executive Vice-President and Commissioner for Trade, in the statement called EU's proposal "unprecedented" and added that the European Union has not delivered such trade liberalisation measures before. Dombrovskis has been prioritising the economy of Ukraine amid the Russian offensive. Valdis Dombrovskis highlighted that the measures will help Ukrainian producers and exporters as well as boost the economy of Ukraine. 

“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," Valdis Dombrovskis said in the statement. 

UK removes all tariffs on goods from Ukraine 

Earlier on 26 April, the United Kingdom announced the removal of all tariffs covered in the existing UK-Ukraine trade agreement and imposed new penalties on Russia. According to the press release from the Department for International Trade, all taxes on goods imported from Ukraine would be lifted, and all quotas will be withdrawn, giving the war-torn nation economic assistance in their hour of need. In addition to this, the British government has declared an embargo on the export of certain products and technology to Russia, including interception and monitoring equipment. In addition, the UK has also announced an export ban on products and technology that Russia could use to repress Ukrainians. According to the UK government press release, the products that could be targeted in the Russian ban could include interception and monitoring equipment. 

Image: AP