Ukraine has signed a new modernized agreement with the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway, and Switzerland. This document includes significant updates in sections related to simplifying trade procedures, as well as sanitary and phytosanitary measures, public procurement, technical cooperation, and intellectual property protection.
This is reported by Business • Media
The innovations also include chapters dedicated to e-commerce, support for small and medium-sized enterprises, as well as trade and sustainable development. An important aspect of the agreement is the new rules regarding the origin of goods, which promotes deeper integration of Ukraine into European supply chains.
Thanks to the new conditions, Ukrainian producers will have the opportunity to export a significantly wider range of goods to EFTA countries without tariffs or at reduced rates. In particular, tariffs on industrial products will be completely eliminated, while those on agricultural products will be partially reduced.
Last year, trade turnover between Ukraine and EFTA countries reached nearly €1.3 billion. Exports of Ukrainian goods to EFTA have been growing on average by 4.9% per year, while imports from these countries have increased by 9.3%.
At the same time, in neighboring Romania, presidential candidate Victor Ponta announced his intention to stop the export of Ukrainian grain through the country’s Black Sea ports if he wins the elections.