Ukraine-EU free trade zone set for 2016

Ukrainian Foreign Minister Pavlo Klimkin has confirmed Ukraine-EU free trade zone will come into effect in 2016.

Ukraine-EU free trade zone set for 2016

Ukrainian Foreign Minister Pavlo Klimkin has confirmed that a free trade zone between the European Union and Ukraine will be launched in 2016, Russian news agency TASS reported Friday.

"The free trade zone will be in place from Jan. 1 and nobody can cancel it. This is the final decision," Klimkin told the Ukrainian 1plus1 TV channel, TASS said.

Ukrainian President Petro Poroshenko signed on June 27, 2014 an economic part of an association agreement with the EU, describing it as the country's "first, but most decisive step" towards its membership path.

On Sept. 12, 2014, Russia, Ukraine and the EU agreed to suspend the establishment of a free trade zone between Ukraine and the EU.

They also agreed to maintain until the end of 2015, the free trade regime within the Commonwealth of Independent States comprised of former Soviet republics, which will allow duty-free access of some Ukrainian goods to the EU market, while EU exports to Ukraine will still be subject to duties.

 

 

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