UK announces new trade measures to support Ukraine

26 Apr '22

1 min read

Pic: Shutterstock

The United Kingdom recently announced new measures to support Ukraine in its conflict with Russia by removing all tariffs covered by the existing UK-Ukraine trade deal and hitting the Russian government with fresh sanctions. All tariffs on goods imported from Ukraine will now be reduced to zero and all quotas will be removed under the free trade agreement.

This will provide Ukraine economic support in their hour of need, a UK government press release said.

British Prime Minister Boris Johnson pledged to cut tariffs to support Ukraine’s economy through this crisis when he visited Kyiv earlier this month.

UK international trade secretary Anne-Marie Trevelyan met Ukrainian ambassador to the UK Vadym Prystaiko in London last week to reiterate her country’s unwavering support for Ukraine and set out the new measures.

The latest announcement comes following a direct request from the Ukrainian government to liberalise tariffs and support the Ukrainian economy. Removing tariffs on key Ukrainian exports including barley, honey, tinned tomatoes and poultry will help Ukrainian businesses and producers when they need it the most, the press release said.

Fibre2Fashion News Desk (DS)

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