On Monday 14 April, the European Foreign Affairs Council adopted the European Commission’s proposal for autonomous trade measures providing tariff preferences for Ukraine. These unilateral trade measures are expected to eliminate 94.7% of current EU tariffs on imports of industrial goods from Ukraine and all EU tariffs on Ukraine’s agricultural produce exports to the EU, while reducing tariffs on certain chemicals and other products originating in Ukraine.
While the regulation has yet to be published in the EU Official Journal (but is anticipated shortly), it is understood that the trade preferences will enter into force on 23 April and apply until 1 November 2014 at the latest, pending the signature and provisional application of the Deep and Comprehensive Free Trade Area (DCFTA) part of the EU’s Association Agreement with Ukraine.
The EU has reaffirmed that it remains committed to signing the remaining provisions of the Association Agreement, including the DCFTA, as soon as possible after the EU presidential elections on 25 May.
