Great Britain and Ukraine will extend the agreement on the abolition of import duties and tariff quotas in trade until 2029, except for poultry and eggs, for which the extension will be valid for two years - until 2026. This was reported on the British government's website.
The UK was the first to abolish trade duties for Ukraine in 2022 and is now the first to extend the abolition for such a long period.
The liberalization of trade tariffs is part of the British policy aimed at supporting Ukraine, along with military, humanitarian and economic aid.
"This step is aimed at helping war-affected Ukrainian businesses and is the most generous tariff relief in the world," the British Department of Trade said in a statement.
The UK is not Ukraine's main but important trading partner. Ukrainian business traditionally exports flour, grain, dairy products, poultry and semi-finished products, tomato paste, honey, corn, wheat, juices, mushrooms, and sugar to the UK.
The decision to abolish import duties and tariff quotas is legally enshrined in the agreement on political cooperation, free trade, and strategic partnership.
The agreement between Ukraine and the UK is bilateral, meaning that British companies can also benefit from duty-free trade with Ukraine. The structure of imports of goods from Great Britain to Ukraine is dominated by supplies of transport, machinery, and various chemical and pharmaceutical products.
