Stock photo: Getty Images<\/p>\n
The Ukrainian government, together with the European Commission, is working to avoid a return to the trade regime that was in place prior to 2022.<\/p>\n
Source:<\/strong> European Pravda<\/a><\/p>\n Details: <\/strong>If a new EU decision is not adopted by 5 June, the provisions of the EU-Ukraine Association Agreement will be reinstated by default \u2013 which, according to experts, threatens a significant reduction in Ukrainian exports to the European Union.<\/p>\n Advertisement:<\/p>\n
A study by Veronika Movchan (Institute for Economic Research) and Ricardo Giucci (Berlin Economics) shows that losses for the Ukrainian economy in such a case are estimated at US$1.5 billion, or nearly 4% of total exports.\u00a0<\/p>\n However, the European Commission firmly supports maintaining and improving the current trade regime.<\/p>\n In particular, Ursula von der Leyen, the President of the European Commission, during talks with Ukrainian Prime Minister Denys Shmyhal on 9 April, stated that the new trade conditions between Ukraine and the EU will be better than those in place before 2022.<\/p>\n This goal is expected to be achieved by revising the current free trade regime \u2013 in accordance with Article 29 of the Association Agreement.<\/p>\n The Ukrainian side emphasises that the format of the future agreement is not essential. The key priority is to preserve and enhance the access of Ukrainian goods to the European market.<\/p>\n “For us, it doesn\u2019t really matter what \u2018cover\u2019 the future trade regime between Ukraine and the EU is written under. Whether it\u2019s autonomous preferences, as it has been until now, or a free trade regime extended under Article 29 \u2013 what matters to us is the result, not the label,” the Ukrainian government stated.<\/p>\n Background:<\/strong><\/p>\n
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