Business news

MINSK, 28 December (BelTA) – The Belarusian and Ukrainian sides have come to terms about how they will go about removing restrictive measures in mutual trade. The decision was made at the second session of the Belarusian-Ukrainian high-level working group that had been assigned to deal with such matters, the press service of the Belarusian Ministry of Foreign Affairs told BelTA.

According to the source, the new arrangements will take care of the Ukrainian decision to introduce a special import duty as large as 39.2% against a number of Belarusian exports to Ukraine as from 20 January 2016.

Natalia Mikolskaya, Ukraine’s trade representative, Deputy Economic Development and Trade Minister, the head of the Ukrainian part of the working group, said that on 26 December 2015 the Ukrainian head of state signed the law on measures meant to stimulate foreign economic activities. As from 1 January 2016 the law will rescind the extra import duty used against Belarusian products among other ones. The removal of the import duty will lift the existing tariff barriers that impede the access of Belarusian goods to the Ukrainian market. It will also create prerequisites for exporting more Belarusian products to Ukraine, BelTA learned from representatives of the Belarusian Ministry of Foreign Affairs.