Ukrainian textiles and clothing exported to the EU will implement zero tariffs as scheduled

On June 27, the EU signed the remaining parts of the Association Agreement with Ukraine at the EU Summer Summit in Brussels. The economic part of the agreement stipulates that Ukraine will achieve in-depth economic integration with the EU and establish a deep and comprehensive free trade area. The agreement covers a wide range of cooperation areas. After the specified transition period, Ukraine and the EU will engage in zero import tax trade.
The EU announcement pointed out that the integration of trade liberalization and regulations with the EU will create new trade opportunities for Ukraine. Ukraine’s annual exports to the EU are expected to increase by 1 billion euros (approximately US$1.36 billion), especially clothing and textiles, food and non-ferrous metals. Metal exports will benefit. In addition to trade preferences, Ukraine will continue to enjoy financial assistance from the EU. The European Commission estimates that the implementation of the Association Agreement will generate an additional 1.2 billion euros in revenue for Ukraine every year.