Ukraine hopes to update Association Agreement with EU – Economy Ministry

Ukraine hopes to update Association Agreement with EU – Economy Ministry

Ukraine hopes to start updating the Association Agreement with the EU, which is an important issue in the current situation with international trade.

This was discussed during a meeting between Ukrainian Minister of Economic Development, Trade and Agriculture Ihor Petrashko and Head of the EU Delegation to Ukraine Matti Maasikas, the press service of the Ministry of Economic Development, Trade and Agriculture of Ukraine reported.

“We hope to start updating the EU-Ukraine Association Agreement. This issue is particularly important due to the difficult situation in international trade. Also, a priority issue is the removal of technical barriers in trade with the EU; we are ready to conclude the Agreement on Conformity Assessment and Acceptance of Industrial Products (ACAA),” Petrashko said.

According to the minister, the European Union remains the main trading partner of Ukraine. In 2019, compared with 2018, trade turnover between Ukraine and the EU increased by 5.5% and amounted to USD 45.7 billion, of which export totaled USD 20.8 billion. In particular, Poland, Italy, Germany, the Netherlands and Hungary were the largest importers of Ukrainian products.

“Ukraine has introduced an adaptive quarantine exit plan, which consists of five stages. It is important to constantly exchange experience with other countries on the fight against coronavirus, economic recovery after COVID-19, business support, and the preservation and creation of new jobs. At the same time, despite measures taken against the pandemic, we are making every effort to ensure uninterrupted export of agricultural products to foreign markets and ensure food security,” Petrashko noted.


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