The European Commission (EC) has completed its talks over reviewing the European Union’s Deep and Comprehensive Free Trade Area (DCFTA) Agreement with Ukraine.
According to EC President Ursula von der Leyen, the modernized agreement ensures trade flows from Ukraine to Europe and world markets, builds bridges of stability and economic solidarity and defends EU farmers’ interests.
As EC assesses, the review of the trade liberalization provisions in the association agreement marks a new stage in establishing a long-term, predictable and mutual basis in the wider context of Ukraine’s accession process.
A statement by the EC also mentions the sensitivity of certain agricultural sectors.
As the statement says, the EU will support Ukraine and integrate it with the EU single market. Both sides will get profit and basis for a long-term economic certainty and stable trade relations as soon as they approve the reviewed DCFTA agreement.
There are three key foundations in the updated version. According to the first one, Ukraine should gradually align with relevant EU production standards such as animal welfare, use of pesticides and veterinary drugs to get access to the European market.
A reliable protective reservation is the second key foundation. Both sides need protective mechanism allowing them to take appropriate measures in situations where an import may cause unfavorable consequences for either side.
Broader trade flows are the third foundation. It is necessary to establish a balance between supporting EU-Ukraine trade and the sensitivity of certain agricultural sectors and concerned EU parties.
It is also important to vary the agreed market by introducing slight increases compared with the initial DCFTA for the most sensitive goods, such as sugar, poultry, eggs, wheat, corn and honey. The EC has also made some improvements to benefit both sides on the basis of additional markets and finally has approved full liberalization for certain non-sensitive products.
Also, measures to help Ukrainian exporters to reach their traditional markets in third countries will be examined.
Details of the agreement will be announced to Member states and the European Parliament in coming days. As the EC said, the agreement undergoes finishing legal touches in principle, and the EU and Ukraine will now continue their respective procedures for formal approval of the reviewed DCFTA agreement.
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