European Parliament backs extension of trade concessions for Ukraine

BRUSSELS. May 10 (Interfax) - The European Parliament has endorsed a proposal by the European Commission to extend zero import duties on Ukrainian goods by another year, until June 5, 2024.

The European Parliament voted on the matter on May 9, with 537 in favor, 42 against and 38 abstaining.

Coreper, the Committee of the Permanent Representatives of the Governments of the Member States to the European Union, backed the decision on April 28. This was followed by approval from the European Parliament's Committee in International Trade Committee.

It was possible to extend these concessions after the European Commission, responding to the problem with imports of Ukrainian agricultural produce in five EU countries - Poland, Bulgaria, Hungary, Romania and Slovakia - imposed restrictions, banning imports of wheat, corn, rapeseed and sunflower seeds from Ukraine from May 2 to June 5. But there is still a problem with the transit of these crops through these five countries onwards to countries in and outside the EU. In addition, a second financial support package of 100 million euros will be provided to farmers most affected in these countries.

The problem was prompted by an influx of such products to those countries while in transit to their final destinations.

The European Commission in April 2022 proposed that import duties on all Ukrainian exports to the European Union be suspended for one year in order to support Kiev. The relevant regulation of the European Parliament and the EU Council went into force on June 4 last year.