- by admin - Mon, 05/09/2022 - 04:13
The United Kingdom has abolished all export duties and restrictions under the terms of the Free Trade Agreement, which had to be valid for Ukraine since 2023. This was stated by the Department of International Trade of Great Britain.
From now on, all export duties and quotas covered by the trade agreement between Britain and Ukraine, that is primarily agricultural and industrial products, have been abolished. It is said that such a decision was made in response to a direct request from the Ukrainian government to liberalize tariffs.
“The abolishing of duties on key Ukrainian export, including barley, honey, canned tomatoes and poultry, will help Ukrainian businesses and producers when they need it most of all,”- said the UK's Department of International Trade. Besides this, the United Kingdom has announced a ban on export of goods and technologies that Russia can use to “suppress the heroic people of Ukraine”. Such goods include interception and monitoring equipment. “This will close any existing loopholes so that russia does not buy these items in Britain,” - the Department informed.
It should be mentioned that the United Kingdom and Ukraine signed a Free Trade Agreement in 2020, after which it was ratified by the Ukrainian Parliament. According to the document, after a transition period of three years, since 2023 Ukrainian export should be exempt from British duties. This year the import duty for Ukraine was to be 1/8 of the base rate. Instead for the UK, the Agreement came into full force in 2026.
For more detailed information read by the link.
Reference source: Diia.Business.Export