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Monday, September 25, 2017

EU, Ukraine reach trade agreement

The European Parliament gave its consent to the EU-Ukraine Association agreement, which includes the Deep and Comprehensive Free Trade Agreement, during a Tuesday meeting in Strasbourg, France.

The agreement, which was ratified by the Ukrainian Parliament in Kiev at the same time, establishes political and economic integration between the European Union and Ukraine while providing for mutual free market access.

“Through this ratification, Ukraine's European choice will be institutionalized and will bind the futures of the EU and Ukraine together,” EU member Jacek Saryusz-Wolski said. “Ukrainian society has paid the highest price for its European aspirations, grieving the deaths of numerous people, suffering territorial occupation by Russia and experiencing deteriorating economic conditions. With this ratification, the EU gives Ukraine the strongest sign of support, despite the regrettable proposal to delay implementation of the agreement.”

The deal will be applied provisionally, but the date still needs to be confirmed by the EU Council.