Ukraine could lose up to $800 million in export revenues by the end of the year as its duty-free trade access to the European Union expires on June 5, threatening a key lifeline for the country’s agricultural sector.
Ukraine is expected to face export losses of up to $800 million between June and December this year, due to the anticipated end of its duty-free access to the European Union market, a deputy governor of the central bank said on Thursday.
The preferential trade arrangement with the EU, one of Ukraine's key trading partners, is set to expire on June 5.
Last year, agricultural products made up roughly 60% of Ukraine’s total exports, valued at $41.6 billion, with the EU purchasing around $15 billion worth of those goods.
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