Ukraine should expect significant changes from DCFTA in 5-7 years – EU representative office

Nicholas Burge, Head of the Trade and Economic Section of the Delegation of the European Union to Ukraine, said at a round table meeting in Kyiv on Tuesday, an Ukrinform correspondent reports.

“On January 1, in a month, I can guarantee that the DCFTA between Ukraine and the EU will come into force,” Burge said.

According to him, the free trade area is symbolic and at the same time a very practical tool, that’s why it should become a center of economic reforms in Ukraine.

“We should not exaggerate the immediate economic effect from the DCFTA. The main changes on January 1 will take place in the sphere of tariff liberalization. There will be a slow reduction in import tariffs from the both sides, which will improve the access to markets. Although, great changes from the DCFTA implementation will take place only in 5-7 years,” Burge.

The free trade area is a long-term program which transforms the Ukrainian economy and will make it more competitive, by opening not only the EU market, but other world markets as well, Burge added.

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