EU Newsbrief: European Commission Proposes Trade Measures to Support Ukraine

News provided by

Delegation of the European Union to the United States

Mar 11, 2014, 06:33 ET

WASHINGTON, March 11, 2014 /PRNewswire-USNewswire/ -- The European Commission adopted today a proposal for temporarily removing customs duties on Ukrainian exports to the European Union.

"The European Commission is committed, and ready, to support Ukraine to stabilize its economic and financial situation," said European Commission President José Manuel Barroso. He noted that removing customs duties "will represent an economic benefit to Ukraine of around 500 million euros per year. This proposal is a concrete, tangible measure of EU support to Ukraine."

EU Trade Commissioner Karel De Gucht said this "will be an important component of the European Union's package to help Ukraine during this difficult period." He welcomed today's measure as a "first step in delivering rapid and direct assistance to the people of Ukraine." Furthermore, it is "a clear sign of the European Union standing shoulder to shoulder with all the Ukrainian people."

Last week, the European Commission presented a package of support for Ukraine of at least 11 billion euros.

More information: http://europa.eu/rapid/press-release_IP-14-250_en.htm

SOURCE Delegation of the European Union to the United States