EU-UKRAINE ASSOCIATION AGREEMENT: LESS THAN 5 MONTHS AWAY

There are less than 5 months left until the famous Eastern Partnership summit in Vilnius in late November. However, the political decision on the fate of the Agreement will be made by the EU member states at a meeting of the EU Council already in October on the basis of assessments of progress made by Ukraine.

The Association Agreement will provide long-term economic advantages for both Ukraine and the EU. Following the document signing, EU companies are expected to experience certain growth, obtain opportunities of investment in the Ukrainian business, and enjoy absence of customs duties. 45-million Ukraine constitutes one the largest consumer markets in Europe. In 2012, most investment inflow to the country was attracted by industrial, infrastructure, and agricultural projects. The current turnover between Ukraine and the EU represents EUR 40 billion, which will significantly increase  (perhaps double) after the Association Agreement is in force.

Signing of the Association Agreement would also be beneficial for Ukraine. Ukrainian producers would gain access to 500 million consumers, which is bound to influence Ukraine’s GDP growth. The Association Agreement would also provide for more investment and implementation of new standards in the country.

42% of Ukrainians support the Association Agreement because it will be beneficial to the country’s economy.

The following member states have already marked their support for a conclusion of the Association Agreement between the EU and Ukraine: France, Poland, Germany, Lithuania, Latvia, Estonia, Luxembourg, Spain, Denmark, Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Ireland, Sweden, United Kingdom.