Zelenskyy signs law to facilitate trade with Europe

Volodymyr Zelenskyy, photo: press service of the Office of the President

President of Ukraine Volodymyr Zelenskyy has signed a law ratifying the decision on updated trade rules under the Pan-Euro-Mediterranean Convention.

According to the parliament's press service, the document will ensure unimpeded trade between Ukraine and its European partners after the transition to the new rules, which will come into force on 1 January 2025.

According to the Convention, countries may apply both the old and new (updated) rules of origin in parallel until the end of 2025.

The old certificates (issued before 1 January 2025 or 2026) remain valid if the goods are still in transit or under customs control.

Certificates issued under the new rules must bear the notation «REVISED RULES». Countries should regularly inform each other about updates to their rules.

«This way, Ukrainian exporters will maintain the continuity of trade with the EU and will be able to adapt to the new requirements more easily», the statement said.

It is worth reminding that during January-April this year, Ukraine imported goods worth $24.8 billion and exported goods worth $13.3 billion. The total trade turnover was over $38 billion.