EU and Ukraine close in on free trade deal

Companies of the European Union would be looking forward to a boost in their business in Eastern Europe as EU and Ukraine set to agree on a free trade deal

Officials from European Union and Ukraine are closing in on a free trade deal. Kiev and Brussels are about to step closer to the much-delayed Association Agreement. However, the European Union has made it clear that there will be a number of conditions attached
to the signing.

Brussels wants to make sure that Kiev does not move towards Moscow especially because its president, Viktor Yanukovych, is pro-Russian.

Ukraine’s deputy Prime Minister, Valery Khoroshkovsky says that the agreement has defined paths.

“The path which we have defined with our partners in all its areas of focus.”

The association agreement includes a free trade deal which means that Ukraine will be able to get financial, macro-economic and other types of aid.

The deal was expected to be signed last year but there was a delay due to the imprisonment of former premier Yulia Tymoshenko due to abuse of official charges.

However, Yulia Tymoshenko’s Batkivshchyna has doubts whether Yanukovych will fulfil the promises of the agreement.

Debuty leader of Batkivshchyna, Grigoriy Nemyrya says that the agreement would be a big test for the government and would be the moment of truth for the country’s premier who has many times said that he is all for European integration.

“It will be the moment of truth since President Yanukovych and the government constantly say they are for European integration. The association agreement is a key step now.”

The introduction of this agreement certainly recognises Ukraine’s European aspirations. However, it still remains to be seen whether European Union’s carrot and stick approach will pay dividends or not especially with Ukraine’s leader being pro-Russian.

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Posted by Taimoor Tariq on Mar 31 2012. Filed under Europe. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry