: :inin Kyiv (EET)

Poroshenko: EU deal gradually compensating for Ukraine`s losses caused by Russia

Ukrainian President Petro Poroshenko has said the EU Association Agreement with Ukraine has begun to gradually compensate for the losses the country has sustained because of the war with Russia, according to a UNIAN correspondent.

”The Ukraine-EU Association Agreement is already working gradually to compensate for the incredible losses inflicted by the war and the economic aggression of Russia,” the president stated in his official speech on the occasion of the 25th anniversary of Ukraine`s independence.

”Moscow tries to strangle us, both by closing its market and by blocking transit to other countries. Against the backdrop of unprecedented external shocks, we achieved macroeconomic stabilization and restored economic growth,” he noted.

”Independence already gave us democracy, liberty, sense of human dignity and national unity; taught us to defend ourselves and introduced the European perspective,” he added.

The EU-Ukraine Association Agreement was signed on June 27, 2014, followed by the simultaneous ratification by the Verkhovna Rada and the European Parliament on September 16, 2014.

Important parts of the EU-Ukraine Association Agreement were provisionally applied from November 1, 2014.

Since January 1, 2016, Title IV of the Association Agreement, which establishes a Deep and Comprehensive Free Trade Area (DCFTA), is also being provisionally applied.

The DCFTA goes further than classic free trade areas, as it will not only open up markets, but will also address competitiveness issues and the steps needed to meet EU standards and trade on EU markets.

To maintain its support for Ukrainian exporters, the EU will extend its autonomous trade measures up till the same date.

The agreement focuses on providing support to core reforms, economic recovery, growth, governance and sector cooperation in areas such as energy, transport and environment protection, industrial cooperation, social development and protection, equal rights, consumer protection, as well as education, youth, and cultural cooperation.

The agreement also puts a strong emphasis on values and principles: democracy and the rule of law, respect for human rights and fundamental freedoms, good governance, a market economy and sustainable development.

Under the agreement, cooperation in foreign, security policy and energy will be enhanced.


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