EU and Ukraine have reached an agreement on the renewal of the free trade agreement, – European Commissioner Šefčovič
The European Commission and Ukraine have concluded negotiations on the principles for the revision of the trade liberalisation provisions within the Deep and Comprehensive Free Trade Area (DCFTA).
This was announced by European Commissioner for Trade Maroš Šefčovič.
The updated agreement will enter into force after the expiry of the EU’s autonomous trade measures, which eliminated customs duties on Ukrainian goods.
“We are pleased to announce that the Commission and Ukraine have reached an agreement in principle on the revision of our bilateral Deep and Comprehensive Free Trade Agreement following the conclusion of the consultation process under Article 29. This agreement opens a new chapter in trade relations between Ukraine and the EU,” Šefčovič said.
According to him, the updated agreement provides a long-term and mutually beneficial basis for cooperation, which will benefit exporters, businesses and farmers on both sides and contribute to Ukraine’s European integration.
Among other things, Ukraine has committed to gradually bringing its agricultural production standards closer to EU requirements by 2028.
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