Free

Tariff relief boost for Ukraine as Australia lifts aid

By Tess Ikonomou
Updated April 19 2024 - 3:35pm, first published 3:32pm
Australia has removed tariffs on products from Ukraine to help the nation's economy. (Bianca De Marchi/AAP PHOTOS)
Australia has removed tariffs on products from Ukraine to help the nation's economy. (Bianca De Marchi/AAP PHOTOS)

Tariff relief for Ukrainian products will be extended by another two years to support the war-torn nation in its efforts against Russia's invasion.

Treasurer Jim Chalmers and Trade Minister Don Farrell announced on Friday the duty exemption will be moved until July 3, 2026 for goods produced and manufactured in Ukraine.

Dr Chalmers met with his Ukrainian counterpart Sergii Marchenko in Washington DC overnight, as part of a series of finance and global economic outlook meetings.

The measure results in tariffs of up to 5 per cent reduced to zero on Ukrainian goods.

"Australia is committed to supporting Ukraine's economy and its continued participation in international trade as it deals with the ongoing, devastating effects of Russia's invasion," the statement from Dr Chalmers and Mr Farrell reads.

"The tariff relief is one part of Australia's package of defence, economic and humanitarian assistance to Ukraine."

Australian Associated Press