EU-Ukraine Association Agreement: full implementation of a landmark deal

On 1 September 2017, the EU-Ukraine Association Agreement will enter fully into force. Signed on 27 June 2014 and ratified by the European Parliament, the Verkhovna Rada - the parliament of Ukraine - and all EU 28 member states, the agreement has been provisionally applied since 1 January 2016.

Markus J. Beyrer, Director General of BusinessEurope, commented: “Delivering on the adoption of the association agreement sends a strong message that the EU and Ukraine can work together in an environment of cooperation for the growth and prosperity of their people, based on shared values and principles”. He highlighted that the Deep and Comprehensive Free Trade Area (DCFTA) is of particular importance. The DCFTA comprises three free-trade areas established between the European Union and Georgia, Moldova and Ukraine respectively; it is part of each country's EU association agreement.

Beyrer also pointed out that even during its brief period of provisional application, concrete results have been observed: 95% of duties were eliminated on day one, while solid progress has taken place in areas such as public procurement and competition, which are vital for a prosperous business environment. “We believe that full implementation of the broader association agreement will provide a new impetus for the continuation of reforms in Ukraine and will help attract investment there. The road ahead of us is still full of challenges but we now have a solid legal basis to improve cooperation and boost economic and political relations”, he concluded.