Ukrainian President Piotr Poroshenko signed the law of trade association with the European Union (EU) today, after it was ratified by the Verkhovna Rada (Parliament) with an absolute majority of 355 votes.
Speaking from the Rada today, Poroshenko said that the law is now in force, even though the implementation of the treaty for a free trade area with the EU has been postponed until early 2016.
Ukraine is headed toward Europe and now “nobody dares to close the door to EU membership,” claimed the president, emphasizing that the signing of the bilateral treaty was a foregone conclusion.
In mid-November 2013, the government of ousted President Viktor Yanukovych postponed the signing of the agreement due to a downturn in the Ukrainian economy, a decision that caused massive opposition protests and a staged coup d´etat, consummated on February 22.
The nation fragmented between supporters of European integration and those who favored an alliance with the Customs Union and Russia.
The document that become law today envisages closer cooperation between Kiev and the bloc of 28 community members in various areas, the rearrangement of the national constitution along European guidelines and the access of Ukrainian products to the EU market, according to official reports.
The partnership covers the format of political dialogue, political timing, structural reforms, and convergence of foreign policy, security and justice; linked to issues of trade, economics and finance.
Kiev even expressed its willingness to meet status commitments from the International Court of Rome, from 1998, along with other provisions that are clearly European. In parallel, the European Parliament in Strasbourg today ratified the approval of the trade agreement with Ukraine.
Meanwhile, Russia warned yesterday that if the trilateral accord regarding the treaty’s delayed implementation, agreed to on September 12 in Brussels, were to be manipulated in ay way, it would be considered a violation of that accord and Russia would reserve the right to withdraw its preferential trade agreement with the neighboring former Soviet republic.
Beyond what has been achieved, Economic Development Minister Alexei Uliukaev, claimed yesterday at the cabinet meeting that the trilateral accord postponing the implementation of a free trade zone between Ukraine and the EU would need to be legally approved by the Verkhovna Rada and the European Commission.
The Ukrainian government initialed the political segment of the treaty on March 21, while the economic part was signed last June 27.
Currently, the 28 member bloc has offered to extend to November 1 the “privileged” status for Ukrainian goods entering its market, while the opening of a free trade area has been postponed until December 31, 2015, meaning that EU products would enter Ukraine free of import tariffs.
Until then, the country will continue within the framework of the Commonwealth of Independent States, and in particular, will participate in the common market mechanism with Russia. (PL)