On 28 June, European Union ambassadors endorsed the agreement reached between the EU Presidency, currently held by Malta, and the European Parliament on temporary autonomous trade measures in favour of Ukraine. The proposal is aimed at improving access for Ukrainian exporters to the EU market, in view of the difficult economic situation and the economic reform efforts undertaken by Ukraine, said an EU press release.
“These measures are a gesture on our part of tangible political and economic support to Ukraine. Given the difficult situation Ukraine is currently facing, we hope to proceed swiftly with the implementation of this regulation,” said Christian Cardona, Minister for the Economy, Investment and Small Business of Malta.
According to the EU, the agreement adds to trade provisions already introduced under the EU-Ukraine Association Agreement, signed in 2014. Those provisions have been provisionally applied since 1 January 2016.
The measures will be applied for a three-year period.
The EU says that in order to safeguard these measures, Ukraine will be obliged to respect the same principles as under the Association Agreement. These include respect for democratic principles, human rights and fundamental freedoms and for the principle of the rule of law, as well as continued and sustained efforts with regard to the fight against corruption and illegal activities.
