The Ukrainian government, together with the European Commission, is actively working on new compromise trade conditions that will come into effect after June 5. If an agreement is not reached,
This is reported by Finway
“by default” the provisions of the Association Agreement will be reinstated
, which could lead to a significant reduction in Ukrainian exports to the European Union. According to estimates, the loss for the Ukrainian economy in this case would amount to approximately $1.5 billion, or nearly 4% of the total export volume.
Support from the European Commission
Despite the possibility of reverting to outdated conditions, the European Commission confidently supports the preservation and improvement of the trade regime. President of the European Commission Ursula von der Leyen assured during a meeting with Ukrainian Prime Minister Denys Shmyhal that the new trade parameters between Ukraine and the EU will be better than those in place before 2022. These goals are planned to be achieved by reviewing and expanding the existing free trade regime, in accordance with Article 29 of the Association Agreement.
Main Goals of Ukraine
Representatives of the Ukrainian side emphasize that the format of the future agreement is not crucial. The main goal is to maintain and enhance access for Ukrainian goods to the European market.