EU Ukraine Free Trade Area started 1 January 2016

On 1 January 2016, the European Union (EU) and Ukraine started applying the Deep and Comprehensive Free Trade Area (DCFTA) which forms part of the Association Agreement signed in June 2014. The rest of the Association Agreement, containing political and cooperation provisions, has already been provisionally applied since November 2014. With the entry into force of the DCFTA both sides ensured that markets for goods and services are mutually opened on the basis of predictable and enforceable trade rules so that new opportunities will be created for the EU and Ukraine businesses, investors, consumers and citizens. By more closely aligning Ukraine’s regulations with EU legislation, the DCFTA will promote higher quality standards for products and will increase the levels of consumer and environmental protection. Economic cooperation and exchanges will also be enhanced, contributing to increased stability and prosperity for Ukraine.