09:46 12.02.2020

EU, Ukraine to step up work on updating FTA - European Commissioner Varhelyi

2 min read
EU, Ukraine to step up work on updating FTA - European Commissioner Varhelyi

The European Union and Ukraine have agreed to step up work to renew the Free Trade Area Agreement (FTA) with the EU next year, European Commissioner for Neighborhood and Enlargement Oliver Varhelyi said.

"We have also agreed to advance and frontload our work when it comes to the review of the DCFTA (Deep and Comprehensive Free Trade Area) due in next year. And our colleagues will be looking very carefully on the areas were we could supplement the agreement according to its rules and we will again return to this issue very soon do we can have a very effective and short procedure next year to update the agreement," he said at a briefing with Prime Minister of Ukraine Oleksiy Honcharuk in Kyiv on Tuesday.

Varhelyi also said that the priority would be the signing in 2020 of an agreement between Ukraine and the EU on joint airspace.

"In the first three years of the existence of the Association Agreement, we have managed to increase the trade between us by half. But we still have a lot we could do. We will continue to support Ukraine to implement the Association Agreement and reap the benefits this will bring to Ukraine and also to the people of this country," the European Commissioner stressed.

He noted that he sought to come to Ukraine as early as possible in order to inform that this European Commission is interested in strengthening the economies of the Eastern Partnership countries.

"We should work on all areas where we can bring growth and jobs back to Ukraine. Especially when it comes to connectivity, when it comes to the 'Green Deal,' energy, transport, education, everything that can contribute to making a strong economy in Ukraine. We agreed with the Prime Minister that this is a joint priority of ours and this should also boost foreign direct investment in this country," Varhelyi said.

He also emphasized that Ukraine and the European Union would work together to create a business environment that is based on the rule of law, with the eradication of corruption and oligarchic influence.

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