On December 7, 2023, the participating countries of the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin approved Decision № 1/2023 of the Joint Committee of the Convention in terms of modernizing preferential rules of origin and simplifying trade conditions.

Since January 1, 2025, the Law of Ukraine dated December 17, 2024 № 4148-IX “On Ratification of Decision № 1/2023 of the Joint Committee of the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin dated December 7, 2023 on Amendments to the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin” entered into force.

Ukraine's accession to the updated Convention will ensure the continuation of the provisions of the Association Agreement between Ukraine and the European Union and, accordingly, the conditions of free trade between Ukraine and the European Union since January 1, 2025.

The updated Convention on Pan-Euro-Mediterranean Preferential Rules of Origin creates favorable conditions for duty-free access of Ukrainian goods to the European Union market, provides for the possibility for domestic exporters to participate in the international chain of processing of goods by European Union enterprises.

The updated Convention provides for the provision of significant advantages and simplifications to potential exporters of preferential goods of Ukrainian origin compared to the initial version of the Convention, in particular, regarding the criteria (conditions) for obtaining the status of preferential origin, simplification of documentary confirmation of their preferential origin, increasing the validity period of preferential documents from four to ten months, liberalization of the mechanism for granting the status of authorized exporter, the possibility of crushing batches of goods in the transit country, etc.

Reference source: http://surl.li/fgvhcndrt