First Deputy Prime Minister of Economic Development and Trade of Ukraine Stepan Kubiv will sign a free trade area (FTA) agreement with Israel. The decision was made at a government meeting on Wednesday.
According to the decision, Israel plans to annul imports duties for 9.2% of agricultural goods and around 80% of industrial goods. Ukraine will retain the current tariff rates for the following goods: poultry and by-products, frozen pork, some types of fish, dairy products, vegetables, grains, fats, finished meat products, sugar, sweets, canned vegetables, sauces, wines, tobacco products and other goods.
At the same time, the expert opinion to the draft resolution indicates that Ukraine intends to abolish import duties for 6.8% of agricultural goods and about 70% of industrial goods.
According to en.interfax.com.ua, the FTA is an ‘agreement with exceptions’, since not all import duties will be done away with, but it provides transitional periods until the full abolition of import duties, partial liberalization of import duties and exceptions for the preferential trade regime.
