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Ukraine ready to sign EU trade deal ‘immediately’ - Poroshenko

Published time: June 04, 2014 16:19
Ukraine's President-elect Petro Poroshenko  (Reuters/Kacper Pempel)

Ukraine's President-elect Petro Poroshenko (Reuters/Kacper Pempel)

Ukraine’s President-elect Petro Poroshenko is ready to sign a deal establishing free trade between the EU and Ukraine, right after his inauguration on June 7. The agreement lies at the heart of the Ukraine crisis and he hopes it will help “restore peace".

"I'm ready to sign the economic part of the Association Agreement and to enter a free trade zone with the EU immediately after the inauguration," Poroshenko said during a meeting in Warsaw on Wednesday with Austrian President Heinz Fischer.

Kiev signed the political part of the trade agreement, which will break down barriers between Ukraine’s $145 billion economy and Europe’s nearly $17 trillion economy.

It had been reported that Poroshenko may be hesitant to sign the agreement, as he may need some time to address Ukraine’s desperate internal problems first, and not rush into foreign partnerships.

When Ukraine’s ex - President Viktor Yanukovich didn’t sign the agreement last November; the country erupted into mass protest, which was followed by violence and near civil war.

Ukraine’s President - elect said he wanted to defend “the aspiration for Euro-integration on the Maidan [Independence Square in the center of Kiev].”

“…and that is why I'm ready to sign the economic part of the association agreement and launch the free trade zone with the EU immediately after the inauguration," Poroshenko said as quoted by TASS.

"I ran for president with the slogans of peace and that is why I consider it necessary to establish peace in Ukraine," the government press office quoted Poroshenko as saying.

The crisis in Ukraine is one of the key topics at the G7 summit that kicked off Wednesday in Brussels and is being held without Russia for the first time in 17 years. Russia was suspended from the G8 over its course in Ukraine, which the West views as an effort to destabilize the former Soviet republic.

Among the other topics on the agenda are European energy supplies, which currently are heavily reliant on Russia. Leaders are also expected to discuss imposing further sanctions on Russia, which would be targeted to hit the economy, and would be the third round.

Comments (76)


vpsingh 08.06.2014 06:51

Question is - Is EU now ready to do a trade deal with Ukraine now? After losing Eastern Provinces (which I believe hold the industrial capacity) and loss of Russia as an active trade partner, Ukraine don't seem to be a very lucrative option anymore.


John Smith 06.06.2014 21:05

Oh and.. btw many government's use academic/grade inflation as a means to ease pressure on labor markets.. - formal education settings are used to achieve social control through milieu control... so it's always tough luck for many these days. ;)

(They also use education to ease pressure on somewhat different kind of markets where sufficiently high quality supply is perceived to be absent.. or seemingly otherwise absent - monasteries used to perform this funtion in the past :| ).


John Smith 06.06.2014 20:11

Why did Yanukovych originally reject these EU agreements? Yep.. because of their far too costly conditions. As far as I know Eastern Ukraine's industrial economy currently funds Western Ukraine's economy to a significant degree... it has been said that a flood of EU imports would harm this industrial economy...

But I guess Ukraine's economy can be founded on IMF and "cheap" predatory euro loans. . .

Some Western Ukrainians deny being fascists.. and instead describe themselves as "liberals" .. - these kind of "modern" corporatist members of EU 'nomenklatura' are sadly all too "well" known here in EU proper.

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