Europe News Desk!!! Ukraine and the European Union (EU) have agreed to extend the mutual preferential trade arrangement for one year. This arrangement was to end on June 5. This information was given by the Prime Minister of Ukraine Denis Schimel. Shmyhal wrote in a post on Telegram that Ukraine and the European Union have agreed to extend the economic visa-free regime for another year. Ukrainian businesses will be able to continue selling their goods to the EU without quotas or tariffs. Xinhua news agency quoted Schmehl as saying that extending the term of the preferential trade arrangement would help revive Ukraine’s economy.
He said that the access of Ukrainian agricultural products to the European market has been partially restored following the imposition of sanctions by five neighboring countries. Schimel said the European Commission has developed a conciliation mechanism that temporarily blocks Ukraine from exporting four types of agricultural products to its neighbors. A Ukraine-EU preferential trade arrangement set to take effect in June 2022 would eliminate tariffs and quotas on Ukrainian industrial goods and food. Last month, Poland, Hungary, Slovakia, Bulgaria and Romania unilaterally banned imports of agricultural goods from Ukraine.
–IANS
World News Desk!!!
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