The Ukrainian government is currently engaged in negotiations with the European Commission regarding the potential extension or renewal of the trade regime with the European Union. The aim of these talks is to avoid reverting to the conditions that were in place before 2022, which, according to forecasts, could lead to a $1.5 billion reduction in Ukrainian exports to the EU.

Source: "European Truth"

Details: If a new decision is not reached by June 5, the old provisions of the Association Agreement will automatically come into effect, posing significant risks to Ukrainian exports.

According to research, potential losses for the Ukrainian economy could reach $1.5 billion, or nearly 4% of total exports, as estimated by experts.

The European Commission is firmly committed to enhancing trade conditions. President Ursula von der Leyen assured that the new parameters would be more beneficial for Ukraine.

It is crucial for Ukrainian goods to have improved access to the European market, and the format of the agreement is not a decisive factor, government representatives stated.

Reminder:

• On May 13, 2024, the EU Council approved the extension of preferential trade with Ukraine for another year — until June 5, 2025.
• Preliminary agreements were established regarding the integration of duty-free trade conditions into the Association Agreement.
• In February 2025, First Deputy Prime Minister Yulia Svyrydenko noted that Ukraine's primary task is to finalize consultations on trade liberalization with the EU.