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Ukraine welcomes extension of preferential trade with EU

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Shillong, May 14: Ukrainian Prime Minister Denys Shmyhal has welcomed the extension of the preferential trade with the European Union (EU), which was due to expire on June 5, for another year.

The suspension of import duties and quotas on Ukrainian exports to the EU will provide important support for Ukrainian producers, exports, and the economy, Shmyhal wrote on Monday on Telegram.

Ukraine continues its integration into the EU at an accelerated pace, the Prime Minister said as quoted by Xinhua news agency report.

Earlier on Monday, the Council of the EU approved the suspension of the import duties on Ukrainian exports for another year.

The Ukraine-EU preferential trade measures, abolishing tariffs and quotas on Ukrainian industrial goods and foods, came into effect in June 2022.

According to European statistics, EU imports from Ukraine amounted to 22.8 billion euros last year. (IANS)

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