EU-Ukraine trade deal operational from January 1Staff writer ▼ | January 4, 2016
On January 1, 2016, the European Union (EU) and Ukraine started to apply the Deep and Comprehensive Free Trade Area (DCFTA) which forms part of the Association Agreement signed in June 2014.
Cooperation Deep and Comprehensive Free Trade Area
The application of the DCFTA of the EU-Ukraine Association Agreement constitutes a milestone in the bilateral relationship, as it will offer new economic benefits to both sides.
Ukrainian businesses receive stable and predictable preferential access to the largest market in the world with 500 million customers, while EU businesses will be able to benefit from easier access to the Ukrainian market and build new relationships with Ukrainian suppliers and cooperation partners.
This will also be to the benefit of Ukrainian citizens, as they will have better access to high quality products, and increased competition and the lowering of import tariffs should lead to lower prices. ■