EU and Ukraine reach agreement on updated free trade deal – Commissioner Šefčovič
The European Commission and Ukraine have concluded negotiations on the principles for reviewing the provisions on trade liberalization within the framework of the Deep and Comprehensive Free Trade Area (DCFTA).
This was announced by European Commissioner for Trade Maroš Šefčovič, according to Censor.NET, citing European Pravda.
The updated agreement will take effect after the expiration of the EU's autonomous trade measures, which have suspended tariffs on Ukrainian goods and will remain in place until June 5, 2025.
"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 completion of consultations under Article 29. This agreement opens a new chapter in EU-Ukraine trade relations," Šefčovič stated.
According to him, the updated agreement will provide a long-term, mutually beneficial basis for cooperation that will benefit exporters, businesses, and farmers on both sides and further promote Ukraine's European integration.
Among other commitments, Ukraine has agreed to gradually align its agricultural production standards with EU requirements by 2028.
