On 13 November, Cecilia Malmström, EU Trade Commisssioner, met with both President Petro Poroshenko and Prime Minister Arseniy Yatsenyuk, and Foreign Minister Klimkin and Minister of Economy Abromavičius to discuss the implementation of the DCFA the two parties signed on 27 June 2014 as part of their broader Association Agreement.
The signing of the DCFA was a response to the security, political and economic challenges Ukraine faced in April 2014. The EU unilaterally granted Ukraine preferential access to the EU market until 31 December 2015.
The DCFA aims to boost bilateral trade in goods and services between the EU and Ukraine by progressively cutting tariffs and by aligning Ukraine’s rules with the EU’s. Ukraine has committed itself to the harmonisation of a large number of rules, norms and standards in trade-related areas. These areas are competition, public procurement, trade facilitation, protection of intellectual property rights and trade-related energy aspects, including investment, transit and transport.
Since 1993 Ukraine has also been enjoying the benefits of the EU’s Generalised System of Preferences (GSP). In 2013, more than 70% of Ukrainian exports to the EU of machinery and mechanical appliances, plants, oils, base metals, chemicals and textiles benefitted from GSP preferential tariffs (source: DG Trade).