EU Parliament supports extension of trade liberalisation for Ukrainian imports

The European Parliament has voted to extend the suspension of import duties and quotas on select goods from Ukraine, including iron and steel, beyond the current expiration date of June 5, 2025. The measure is part of the EU’s Autonomous Trade Measures (ATM) framework first adopted in June 2022.

The decision aims to support Ukraine’s export capacity amid the ongoing conflict and economic disruptions caused by Russia’s invasion. By maintaining open access to the EU market, the regulation is intended to provide continued revenue for key sectors of the Ukrainian economy, in particular the steel industry.

“The deepening of trade relations between the EU and Ukraine is not a matter of charity, but a mutually beneficial exchange that strengthens both parties,” said Karin Karlsbro, Member of the European Parliament and rapporteur for the proposal. “Ukraine’s steel industry is the backbone of the Ukrainian economy. It continues to deliver, despite many workers having left the steel plants to fight on the front lines and factories being subjected to severe attacks.”

The extension was approved with 354 votes in favour, 147 against, and 53 abstentions. Once agreed upon with the Council, the renewed regulation will remain in effect for three years, until June 2028.

The European Commission has indicated that it is working on a longer-term framework to provide greater economic stability for EU-Ukraine trade relations.

Source: European Parliament, Photo: Metinvest