The EU has finally and unilaterally cancelled customs duties on Ukrainian exports.

The EU Foreign Affairs Council made such a decision in Luxembourg on Monday, a Ukrinform correspondent reported.

"The trade preferences, which will apply from the end of April, will remove about half a billion euros of EU customs tariffs a year. They cover 94.7% of current EU tariffs imports of industrial goods from Ukraine and all EU tariffs on Ukraine's agricultural produce exports to the EU," EU Trade Commissioner Karel De Gucht said.

The European Commission recalled that these trade preferences would apply until November 1, 2014.

However, Gucht expressed hope that in the meantime the Deep and Comprehensive Free Trade Area (DCFTA) part of the agreement would be signed and would in force.

The European Commission also noted that Ukrainian exports would have to comply with EU rules on origin labeling and the Ukrainian authorities would have to ensure that third country goods disguised as Ukrainian ones don't enter the EU via Ukraine.

Ukrinform