The European Commission and Ukraine have concluded negotiations on updating the agreement on the Deep and Comprehensive Free Trade Area (DCFTA). The parties have reached an agreement on key principles aimed at promoting further economic integration and expanding cooperation between Ukraine and the European Union.
This is reported by Business • Media
Main Provisions of the Updated Agreement
- Equal Competition: Ukraine has committed to gradually implement European standards in production, particularly in the areas of animal welfare, pesticide use, and veterinary products. This is intended to ensure equal conditions for Ukrainian and European producers.
- Protection of Domestic Markets: Both parties have the right to impose temporary trade restrictions if the import of specific goods poses a threat to national economies. In the EU, relevant decisions can be made at both the level of the entire union and by individual member states.
- Expansion of Trade Opportunities: The updated rules facilitate market access, taking into account the interests of both sides. For certain sensitive categories of agricultural products, such as sugar, poultry, eggs, wheat, corn, and honey, access has been moderately increased. At the same time, conditions for other groups of goods have been improved for mutual benefit.
Support for Exports and Economic Integration
Ukraine and the European Union have agreed to jointly explore opportunities to support Ukrainian exports in traditional markets of third countries. The parties will also analyze achievements in the field of economic integration and consider further prospects for Ukraine’s movement towards European integration.
“Trade between Ukraine and the EU reached about €67 billion last year, compared to €26 billion in 2016.”