The European Parliament approved Thursday the suspension of EU duties on all Ukrainian exports.
The 515-32 vote, with 11 abstentions, will provide a one-year suspension of EU import duties on Ukrainian exports to support the country’s economy during its war with Russia.
"They will fully remove import duties on industrial products, entry duties on fruit and vegetables, as well as anti-dumping duties and safeguard measures on steel imports for a period of one year," the European Parliament said in a statement.
While the EU is Ukraine’s largest trading partner, accounting for more than 40% of its total trade in goods in 2021, Ukraine has been the EU’s 15th biggest trading partner, representing 1.2% of EU trade.
"We must support Ukraine at all levels with every tool at our disposal: not only with weapons and sanctions but with our trading power, too," Standing Rapporteur for Ukraine Sandra Kalniete said in the statement.
"Giving Ukraine the support it needs to defend itself does not end on the battlefield; it includes ensuring that Ukraine’s economy remains resilient and competitive," she added.
The measure will apply on the day following its publication in the Official Journal of the EU.
The Deep and Comprehensive Free Trade Area, established between the EU and Georgia, Moldova, and Ukraine, ensured preferential access for Ukrainian businesses to the EU market since 2016.
The agreement with Ukraine was provisionally applied in January 2016 and formally took effect in September 2017, AA reports.
See all the news
What regime of sanctions applies to Russian oil and what requirements Georgia has to comply?
Financial Services in CAREC
#TheCheckpoints: TIWB & Georgia - Interview with Rusudan Kemularia, Head of TIWB Secretariat
Stoli® Group to Release Limited-Edition Bottle in Support of the Ukrainian People
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Aliyev replaces long-serving central bank head with loyalist
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
Business Leaders Council by USAID and Georgian Business
ვინ არის მსოფლიოში #1 სნაიპერი “Wali”?
ბინების ქირის ფასი 50%-მდე გაიზარდა
OECD formally terminates the accession process of Russia
"Today we are all Ukrainians"- Zurab Pololikashvili
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI
FAQ’s and Analysis on Lari & FDI - Interview with Fady Asly
მინერალური და მტკნარი წყლის ფასები ქართულ ბაზარზე
China continues to push competitors out of the global walnut market
Moscow to Host First Meeting of Turkish & Armenian Special Envoys on Jan 14