Extremely important step for business: the government has included an exception for Ukraine from CBAM in the European Integration Action Plan

The Government has included an exception for Ukraine with CBAM in the European Integration Action Plan / Photo UA.depositphotos.comThe Committee of Industrial Ecology and Sustainable Development of the European Business Association (EBA) congratulates the Government’s decision to include in the European Integration Action Plan for a temporary exception from the mechanism of border carbon adjustment (CBAM). This is stated in the official statement of the Association.

“This is an extremely important step for business, as it will promote the competitiveness of Ukrainian companies in the European market and support the national economy in war. Members of the Association Committee have repeatedly emphasized that Swam can become a significant barrier for Ukrainian exports without proper financial support and delayed.”

The Association has expressed beliefs that a temporary exception to SVAM will allow Ukrainian companies to focus on restoring production, innovation implementation and gradual decarbonization in accordance with European standards.

“The Association sincerely thanks the Government for taking into account the position of business. We will continue cooperation with the state and international partners to create favorable conditions for business and accelerate Ukraine’s integration with the EU,” the EBA says.

We will remind, according to the FRA, in the case of SVAM introduction for Ukraine, by 2034 the fall of GDP will be $ 8.7 billion to 2026, and in 2034 – $ 11.3 billion. Also, Ukraine is expected to reduce tax revenues and social contributions to budget reach $ 3.6 billion in 2034.

Earlier, the German edition of Tagesspiegel stated that the European Commission is ready to delay Swam for Ukraine at least 2027, but the government has to send an official request. At the same time, there is no such request from the Ukrainian authorities.