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European Parliament committee votes for trade preferences to Ukraine

In particular, the preferences will concern Ukrainian agricultural products and textiles

© EPA/JULIEN WARNAND

BRUSSELS, March 20. /ITAR-TASS/. European Parliament’s committee on international trade has voted for granting EU trade preferences to Ukraine, a source at the parliament’s press service told Itar-Tass.

The MPs propose to relieve Ukrainian exporters of 98% of customs duties, which they have to pay at the EU border, the source said.

EU officials believe the measure will stimulate Ukrainian economy growth and will help its producers and exporters hold back up to €487 million a year.

Now the committee’s decision is to be endorsed by the European Parliament.

EU High Representative for Foreign and Security Policy Catherine Ashton said earlier that trade preferences for Ukraine would go into effect in a few weeks’ time.

In particular, the preferences will concern Ukrainian agricultural products and textiles. They will stay in effect through to November 1, 2014, as a minimum.

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