News

The suspension of import duties and quotas on Ukrainian exports to the European Union will be extended for another year, following today's adoption by the Council and April 23 vote in the European Parliament. The EU is thereby delivering once again on its commitment to support Ukraine for as long as it takes.

These so-called Autonomous Trade Measures (ATMs) have been in place since June 2022 and are a key pillar of the EU's unwavering support for Ukraine, providing a lifeline to the country's economy through access to the EU market.

On 7 May, the Cabinet of Ministers of Ukraine approved a draft law on the ratification of the Free Trade Agreement between Ukraine and the Republic of Turkey. Today’s decision creates the basis for completing domestic procedures for the entry into force of the Agreement. The next step is to submit the draft law for ratification by the Verkhovna Rada of Ukraine.

The FAO Food Price Index (FFPI) stood at 119.1 points in April 2024, up 0.3 points (0.3 percent) from its revised March level, as an increase in the price index for meat and smaller upturns of vegetable oil and cereal indices slightly more than offset decreases in those for sugar and dairy products.

Ukraine's grain harvest this year will fall by 10% this year, the government estimates, which will be felt around the world, although the restoration of export capacity from Russia-threatened Black Sea ports allows the country to remain a major global supplier.