 |
On December 31, 2015, the European Commission announced that on 1 January 2016, the European Union (EU) and Ukraine will start applying the Deep and Comprehensive Free Trade Area (DCFTA) which forms part of the EU-Ukraine Association Agreement signed in June 2014. The rest of the Association Agreement, containing political and cooperation provisions, has already been provisionally applied since November 2014. With the entry into force of the DCFTA both sides will ensure that markets for goods and services will be mutually opened on the basis of predictable and enforceable trade rules so that new opportunities will be created for the EU and Ukraine businesses, investors, consumers and citizens. By more closely aligning Ukraine’s regulations with EU legislation, the DCFTA will promote higher quality standards for products and will increase the levels of consumer and environmental protection. Economic cooperation and exchanges will also be enhanced, contributing to increased stability and prosperity for Ukraine. |
