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Ukraine-EU FTA To Help Open Europe For Ukrainian Goods

by Tatiana Smolenska, Tax-News.com, Moscow

19 September 2013

A comprehensive free trade area between Ukraine and the European Union, which will be formed as part of the Association Agreement, will help open the European market for Ukrainian goods within the first year of the agreement taking effect, Ukrainian prime minister Mykola Azarov said.

"The average rate of customs duties in Ukraine will halve for goods from the EU, from 4.95 percent to 2.42 percent, whereas the customs rate on Ukrainian goods in the EU market will shrink by 16 times, from 7.6 percent to 0.5 percent," the Prime Minister said at a Cabinet of Ministers meeting on September 18, 2013.

Azarov said that 90 percent of Ukrainian goods would be subject to the changes within the first year of the agreement coming into effect.

The Ukrainian government expects to sign the Association Agreement during the Eastern Partnership Summit in Vilnius on November 28-29.

TAGS: free trade agreement (FTA) | agreements | trade | European Union (EU) | Ukraine | free trade zone | Europe

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