EU and Ukraine Strike New Farm Trade Deal – Here’s What It Means
The European Union (EU) and Ukraine have just made a deal to change how they trade farm products, reports Reuters. This comes after months of tension over Ukrainian food exports flooding EU markets.
What’s the Deal?
- More Open Trade for Some Products – Items like fermented milk and grape juice can now enter the EU freely.
- Limited Increases for Others – For sensitive goods like sugar, eggs, and wheat, Ukraine can only export a set amount.
- Ukraine Opens Its Market Too – In return, Ukraine will allow more EU pork, poultry, and sugar into its country.
- New Farming Rules – Ukraine must match EU food safety and animal welfare standards by 2028.
Why Did This Happen?
After Russia invaded Ukraine in 2022, the EU dropped taxes and limits on Ukrainian farm goods to help its economy. But cheap Ukrainian grain, chicken, and sugar flooded nearby EU countries like Poland, hurting local farmers. Protests forced the EU to bring back some restrictions.
Now, this new deal tries to balance things: help Ukraine’s economy without hurting EU farmers.
What’s Next?
The deal still needs final approval from EU countries. If either side feels the trade is hurting their markets, they can trigger emergency measures.
Why This Matters:
- The EU is Ukraine’s biggest trade partner.
- Ukraine is the 3rd biggest food supplier to the EU.
- This deal could shape Ukraine’s farming future as it moves closer to EU rules.
(Source: Reuters – For more global trade updates, check their latest reports.)
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credit: Reuters