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European Union – Ukraine. There is a new trade agreement with Ukraine and two protective mechanisms

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The Committee of Permanent Representatives of the Governments of Member States to the European Union on Monday confirmed a preliminary agreement on the suspension of import duties and quotas on Ukrainian exports of agricultural products until June 5, 2025. The draft regulation provides for two mechanisms to protect the EU market against destabilization.

The European Parliament and negotiators of the Belgian Presidency of the EU Council reached a preliminary agreement on Monday on the extension of trade liberalization with Ukraine. The provisional agreement was then approved by the Committee of Permanent Representatives of the Governments of the Member States (Coreper).

Two protective mechanisms

According to the draft regulation, in the event of significant disturbances in the EU market or in the markets of one or more EU countries due to imports from Ukraine, for example wheat, the European Commission will be able to take rapid action and “impose any measures it deems necessary”.

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As part of enhanced safeguard measures to protect EU farmers, the emergency brake may be activated for poultry, eggs, sugar, oats, groats, maize and honey.

Negotiators agreed to extend the reference period used as the basis for triggering this automatic safeguard measure. This means that if imports of these products exceed the average volume recorded in the second half of 2021 and throughout 2022 and 2023, duties will be imposed again.

Entry into force

The European Parliament and the EU Council will now have to formally approve the negotiated agreement. The EP will probably vote on the regulation during its second plenary session in April.

The regulation will then be adopted by the Council and published in the Official Journal before it enters into force on 6 June 2024.

Main photo source: Shutterstock

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