ITAR-TASS | 29.09.2014

EU postpones application of free trade pact with Ukraine

The Council of the European Union on Monday delayed the application of a deep and comprehensive free-trade agreement (DCFTA) with Ukraine by 15 months to December 31, 2015, the press service has said.

At the September 12 ministerial meeting between Russia, the EU and Ukraine in Brussels, the sides reached an agreement to partially postpone the application of Ukraine’s agreement on the association with the EU.

Russia’s Minister of Economic Development Alexei Ulukayev told journalists after the talks that the parties had admitted that the problems over the implementation of the association agreement that Russia had spoken about were real ones.

“The sides agreed that it would take time to clarify these issues, that is why the implementation of the association agreement between Ukraine and the European Union after its ratification would be postponed till the end of 2015, till December 31, 2015,” Ulyukayev said, adding that the sides would have 15 months to reach a compromise on that issue.

On September 16, the European Parliament ratified the Association Agreement with Ukraine. Ukraine’s parliament, the Verkhovna Rada, approved the Agreement on the same day.

It was originally planned that the trade rules provided for in the agreement will apply from November. — ITAR-TASS