Ukrainian Prime Minister Mykola Azarov has said that an agreement on a deep and comprehensive free trade area with the EU as part of the Association Agreement will help open the European market for Ukrainian goods in the first year of the effect of the agreement.

"The average rate of customs duties in Ukraine will halve for goods from the EU, from 4.95% to 2.42%, whereas the customs rate on Ukrainian goods in the EU market will shrink by 16 times, from 7.6% to 0.5%," he said, while opening a Cabinet of Ministers meeting on Wednesday.

Azarov said that such changes "for 90% of Ukrainian goods supplied to the EU will be made in the first year of the effect of the agreement."

As reported, the Cabinet of Ministers of Ukraine on Wednesday plans to approve the draft Association Agreement with the EU, including a deep and comprehensive free trade area with the EU.

The state agencies of Ukraine approved the draft Association Agreement between Ukraine and the EU in August. The government will consider the document and then propose that the Ukrainian president sign the agreement.

Kyiv hopes to sign the Association Agreement during the Eastern Partnership Summit in Vilnius on November 28-29.