To facilitate Ukraine's access to global markets by ensuring smoother transit through EU countries, the EU and Ukraine have extended their Road Transport Agreement until December 31, 2025.
The agreement was signed on 29 June 2022 following Russia's full-scale invasion of Ukraine, with a provision for automatic six-month renewals, unless one of the parties raises an objection at least three months in advance and provides clear evidence of major disruptions to its road transport market.
"This decision became possible due to the effective implementation of the Agreement, its positive economic impact on both parties, and effective monitoring of its enforcement," the Ukrainian Ministry for Communities, Territories and Infrastructure Development stated.
Since the agreement came into force, EU imports from Ukraine by road have increased by 42% in volume and 28% in value, while EU exports to Ukraine grew by 37% in volume and 50% in value. Notably, Ukrainian road exports have substantially increased, resulting in over 200,000 additional tonnes of goods being exported monthly to the EU.
This expansion in trade underscores the agreement's effectiveness in fostering economic cooperation between the EU and Ukraine.
"Road freight transport between Ukraine and the EU is now critical to the economic resilience of our country, as it is by road that we export value-added goods and import essential supplies," said Deputy Prime Minister for Ukraine's Reconstruction and Minister for Communities and Territories Development, Oleksiy Kuleba.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 22 June, covering the latest developments you need to know.
Ukraine's improved position on the battlefield has done little to ease the humanitarian crisis affecting millions of people displaced by the conflict, according to the head of the International Rescue Committee (IRC).
Fuel stations in Russian-controlled Crimea stopped selling fuel to individuals and businesses from 9:00 a.m. local time on Sunday, the Russian-installed governor said.
Ukrainian President Volodymyr Zelenskyy has warned that Russia is preparing a “massive” attack on Ukraine, urging residents to pay close attention to air raid warnings
At least thirteen people have died and sixty-six have been injured following an explosion at Qatar's main liquefied natural gas (LNG) processing hub at Ras Laffan, authorities said on Sunday.
Cape Verde’s remarkable FIFA World Cup debut continued on Sunday (21 June) as the tournament newcomers held Uruguay to a 2-2 draw. Goalkeeper Vozinha was once again at the centre of the story, this time with his mother watching from the stands.
Iran's top joint military command, Khatam al-Anbiya Central Headquarters, has said that the Strait of Hormuz is closed to ships again, citing alleged violations of a ceasefire agreement by the U.S. and Israel. Lebanon has said Israeli strikes killed 16 people on Saturday.
Tehran has agreed to let the International Atomic Energy Agency (IAEA) recommence inspections of its nuclear programme, U.S. Vice President JD Vance has said. The U.S. and Iran have settled on a 60-day roadmap aimed at reaching a final deal, according to mediators Qatar and Pakistan.
A severe heatwave sweeping across much of Europe has led France to restrict alcohol consumption at public events, while Germany issued widespread heat warnings and Spain closed a football fan zone in Madrid.
China has opened its market to cashew nuts from all African countries with diplomatic relations with Beijing, removing a long-standing barrier that had restricted exports from much of the world's largest cashew-producing continent.
Media leaders from across Europe gathered in Vienna this week for the annual European Publishing Congress.
Amazon founder Jeff Bezos has said artificial intelligence will ultimately lead to labour shortages rather than widespread unemployment, pushing back against growing fears that AI will replace human workers.
French department store BHV and online fast-fashion retailer Shein have ended their partnership, seven months after the launch of a permanent Shein shop in Paris triggered controversy and widespread criticism.
China’s retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, signaling further weakness in the world’s second-largest economy.
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