// IP Marketing video - START// IP Marketing video - END

EU to extend €500mln of unilateral trade benefits to Ukraine

EU to extend €500mln of unilateral trade benefits to Ukraine

PanARMENIAN.Net - The European Commission agreed on Tuesday, March 11, to extend 500 million euros worth of unilateral trade benefits to Ukraine, removing import duties on a wide range of agricultural and other goods in an effort to support the Ukrainian economy, Reuters reports.

European Trade Commissioner Karel De Gucht said the decision would come into effect immediately and run until at least Nov 1 this year, by which time the European Union expects to have signed a full free-trade agreement with Kiev.

The total value of the benefits is estimated at 487 million euros a year, De Gucht said, with most of that (330 million euros) coming from the removal of import duties on agricultural and processed agricultural goods. Duties will also be removed on some industrial goods and textiles.

The decision is part of efforts by the EU to prop up Ukraine following the ouster of former president Viktor Yanukovych.

At the same time, the EU is trying to apply pressure on Russia to remove its forces from Crimea by imposing sanctions and other targeted measures on Moscow.

Related links:
 Top stories
Erkam Yildirim was “the registered owner of at least one general cargo ship called the ‘City,’ through the family’s offshore company.
The House is set to discuss H.Res.354 on the afternoon of June 6 with a vote on the matter scheduled after 6:30pm EST.
The photograph, taken in 1992 during the Karabakh war, also features retired Lieutenant General and former MHP deputy Engin Alan.
However, any risk posed by just 10 grams of alcohol is big news, as the average alcoholic beverage (like a 12oz beer can) typically contains around 14 grams.
Partner news