Ukrainian PM does not view reinstatement of EU quota for Ukrainian agricultural imports as threat

MOSCOW. May 29 (Interfax) - Ukrainian Prime Minister Denis Shmygal does not view the reinstatement of EU quotas for Ukrainian agricultural imports, which were scrapped since the beginning of the crisis, as an immediate threat.

"A free trade area with Europe existed [before the crisis] and it will resume operation as a Ukraine-EU free trade area since June 6," Ukrainian media cited Shmygal as saying a joint conference with Finnish Prime Minister Petteri Orpo in Kiev on Wednesday.

There is a preliminary agreement with the European Commission that the free trade area in the amount of quotas would be in effect on the 7/12 basis, until amendments are made to Article 29 of the Association Agreement, Shmygal said.

"We understand that the seven-month volume we would have in the quotas would be enough for Ukraine not to feel a deterioration of the terms we had for the past three years," he said.

Shmygal said he hoped that amendments to Article 29 of the Association Agreement would be signed together with the European Commission as earlier as in 2025.

"Therefore, both Ukrainian and European businesses that have contracts signed within the approved volumes and quotas, will not feel a deterioration," he said.

Trade with the European Union is important to Ukraine, Shmygal said. "As of now, there are no threats of deterioration of the conditions in the short term. There is need for the prompt approval of the amendments to the Association Agreement," he said.

As reported, the European Union had decided to reinstate quotas for Ukrainian agricultural imports, which were scrapped at the beginning of the crisis in 2022 to support Ukrainian farmers. The updated restrictions will take effect on June 6. The quotas, a temporary measure, will be in effect until the end of 2025 and will amount to 7/12 of the regular annual volumes. The EU is working to review the Deep and Comprehensive Free Trade Area with Ukraine.