Ukraine, EU Ratify FTA, Full Implementation Not Until Late 2015
The Ukrainian and European parliaments ratified a political and trade pact on Sept. 16, following a decision in the days prior to delay implementation of the market access provisions. The deal was originally scheduled to take effect in November, but…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
both sides, along with Russia, agreed to delay the trade portion until Dec. 31, 2015 (here). The EU Commission unilaterally opened its market to Ukrainian traders, said the body in a release (here). “The Deep and Comprehensive Free Trade Agreement part substantially integrates the EU and Ukraine markets, by dismantling import duties and banning other trade restrictions, albeit with specific limitations and transitional periods in ‘sensitive’ areas, such as trade in agricultural products,” said the EU. Ukrainian President Petro Poroshenko championed the deal as a move to bring Ukraine closer to the European community, despite Russian resistance. “Recent agreements achieved in Brussels have given Ukraine even more than the agreement provides for,” said Poroshenko (here). “Ukraine has guaranteed preferences until the end of 2015. Ukrainian goods will be sold in the EU duty-free while European goods in the Ukrainian market will work under the WTO rules supporting Ukrainian manufacturers, Ukrainian budget and Ukrainian currency rate.” Plans to shelve the deal led to the Ukrainian protests that forced the departure of the country’s former president in February.