Abolition of all import duties on Ukrainian goods by the EU is an important support for the Ukrainian economy, says Yulia Svyrydenko

The European Union has taken a decision to suspend all import duties on Ukrainian goods for one year. These include all industrial tariffs, agricultural duties and quotas, the system of entry prices, anti-dumping duties and protective duties.

"Given that the EU is currently the main trade route for all Ukrainian exports, such

a decision will allow to develop logistics to third countries. This is an overriding support for the entire Ukrainian economy," stressed Yulia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

According to her, such support from the EU will be especially important for those producers who work along the front line, despite the hostilities. Most duties and quotas apply to agricultural products, so the EU's decision is also to help Ukraine and the world maintain food security.

Yulia Svyrydenko reminded that only the normalization of agricultural exports from Ukraine can reduce food inflation in the world and save millions of people from starvation. "But the main thing is that such a decision already encourages Ukrainian businesses to integrate into the EU internal market, without waiting for political decisions on EU membership," the Minister of Economy added.

It will be recalled that the EU's share in Ukraine's pre-war trade was 39.5%. In 2021, Ukraine exported $26.7 billion worth of goods to the EU.