The National Farmers’ Union tells Sky News that although the UK is in sympathy with Ukraine, adequate oversight is necessary to prevent undue harm to home farmers.
Trade Minister Greg Hands declared that the support will last for “as long as needed” before signing the reciprocal extension in a virtual ceremony.
While applauding the fresh display of “solidarity,” the National Farmers’ Union (NFU) of the UK has voiced concerns about the effects on local production amid industry outrage around Europe on reductions in profit margins and changing laws.
The UK-Ukraine agreement, which covers the great majority of commodities, was supposed to expire at the end of March. However, the exclusions for eggs and poultry are only extended for an extra two years, not five.
The expansion expands commercial prospects for Ukrainian companies operating in vital industries including oils, cereals, and other agri-foods, the prices of which have skyrocketed following Russia’s invasion in February 2022.
The Department for Business and Trade acknowledged that the elimination of tariffs on exports to Ukraine benefits British businesses as well.
In addition to offering arms and assistance, the UK has supported Ukraine’s war effort by granting favorable trade conditions, which include a digital trade agreement intended to increase e-commerce between the two nations.
According to the administration, it has given Ukraine more than £10 billion in economic, military, and humanitarian aid to date.
