On February 23, 2023, the European Commission proposes to renew the suspension of import duties, quotas, and trade defense measures on Ukrainian exports to the European Union – known as the Autonomous Trade Measures (ATMs) – for another year. This is a continuation of the EU's unwavering support for Ukraine's economy and helps alleviate the difficult situation that Ukrainian producers and exporters face because of Russia's unprovoked and unjustified military aggression. The European Parliament and the Council of the European Union will now consider the proposal to ensure a seamless transition from the current regime of ATMs to the new one.
Furthermore, the British Government has officially announced its intention to extend the agreement, which provides for the abolition of import duties and tariff quotas in bilateral trade.
On May 30, 2022, the European Parliament and the Council signed the Regulation (EU) 2022/870 on temporary trade-liberalization measures supplementing trade concessions applicable to Ukrainian products under the Association Agreement between the European Union and the European Atomic Energy Community and their Member States, of the one part, and Ukraine, of the other part valid for a year, until June 5, 2023.
The complete abolition of tariffs allowed Ukrainian businesses to increase exports to the EU – for 2022, this indicator amounted to USD 27.9 billion, which is 63% of last year's exports.
The AmCham Ukraine called international partners to extend the mentioned measures, as this will contribute to:
- mitigating the long-term negative economic impact of Russia's war of aggression against Ukraine;
- accelerating the development of closer economic relations between the EU and Ukraine;
- stimulating trade flows, facilitating and achieving gradual economic integration.
The business community is grateful to Yulia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine, Taras Kachka, Deputy Minister of Economy of Ukraine – Trade Representative of Ukraine and the entire team of the Ministry of Economy of Ukraine for their efforts to continue trade liberalization measures.
AmCham Ukraine calls on the Parliament and the Council of the European Union to support the respective decision. Boost international trade and ensure supply chain security via free access to seaports, building customs and border guard infrastructure capacity, as well as ensure long-term market access opportunities with international trade partners, are among the 10 Priorities for Ukraine’s Post-War Economic Recovery developed by AmCham Ukraine. We will keep working to achieve this goal.