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Thursday, February 29, 2024

Ukraine welcomes EU deal on continued farm exports

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BRUSSELS — Ukraine on Saturday welcomed the European Union’s hard-fought deal to maintain farm exports flowing into and thru the bloc to world markets, saying that the Center East and Africa would particularly stand to learn from it.

Late Friday, the 27-nation EU ended a harmful inner standoff over a destabilizing glut of Ukraine farm imports by granting 5 jap member nations the fitting to quickly ban probably the most problematic produce whereas permitting all farm merchandise to transit onward.

Resolving the problem permits the EU to take care of a unified stance within the face of Russia’s invasion of its neighbor. “We welcome that we resolved this subject,” Ukrainian Finance Minister Sergii Marchenko mentioned at a gathering of EU finance ministers in Stockholm.

Beneath the deal, Poland, Hungary, Slovakia, Bulgaria and Romania can hold 4 farm merchandise that make up the overwhelming mass of exports from Ukraine out of their native markets however should assure unfettered entry to the remainder of the bloc.

Since Russia’s invasion of Ukraine hampered Black Sea shipments of Ukrainian agricultural merchandise, utilizing the 27-nation bloc as a transportation route has been important to getting the nation’s prized cereal manufacturing on to the world.

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“We discovered a smart determination that may assist Ukraine to export vital commodities, food commodities in direction of African nations, which is so vital for them,” Marchenko mentioned, including Center East nations would equally revenue.

Beneath the deal, the bloc would principally settle for the nationwide bans on 4 of the 5 primary merchandise — wheat, maize, rapeseed, and sunflower seeds — that account for many imports. The EU would additionally assess whether or not different merchandise, together with sunflower oil, must also be included.

As an added sweetener, the EU supplied 100 million euros ($113 million) extra in particular support on high of on an preliminary help bundle of 56.3 million euros to assist farmers within the affected nations.

On Friday, EU nations additionally tentatively agreed to carry tariffs on Ukraine’s grains for one more 12 months. The EU lifted duties on Ukrainian grain to facilitate its transport to Africa and the Center East by different routes after a Russian blockade stored cargo from leaving Ukraine’s ports.

General, there was acceptance that the lifting of import tariffs had significantly skewed the native markets in nations closest to Ukraine. In Poland, wheat imports went from 2,375 tons in 2021 to 500,008 tons final 12 months. Maize went from 5,863 tons to greater than 1.8 million over the identical interval.

Comparable enormous will increase had been additionally evident in Hungary, Slovakia and Romania.

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Comply with AP’s protection of the conflict in Ukraine: https://apnews.com/hub/russia-ukraine and of the European Union at https://apnews.com/hub/european-union



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