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Ukraine, EU sign historic trade and economic pact

BRUSSELS (AP) -- Ukrainian President Petro Poroshenko has signed up to a trade and economic pact with the European Union, saying it may be the "most important day" for his country since it became independent from the Soviet Union.

The European Union signed similar association agreements with two other former Soviet republics, Moldova and Georgia.

Businesses in the three countries whose goods and practices meet EU standards will be able to trade freely in any EU country without tariffs or restrictions. Likewise, EU goods and services will be able to sell more easily and cheaply to businesses and customers in Ukraine, Georgia and Moldova.

"It's absolutely a new perspective for my country," Poroshenko said.

It was the decision of his predecessor, Viktor Yanukovych, to back out of the EU association agreement in November that touched off massive protests in Ukraine, and that eventually led to Yanukovych's flight to Russia and Russia's occupation and annexation of Ukraine's Crimean Peninsula.

Before the signing, Poroshenko brandished a pen, saying it was the same pen Yanukovych was supposed to use the sign the Association Agreement at the EU summit in Vilnius last fall.

"Historic events are unavoidable," he said.

Ukraine's EU Pact Brings Russian Warning, 'Nazi' Accusations

Perhaps more important than the trade deal is an accompanying 10-year plan for Ukraine to adopt EU product regulations. Such rules are important because they ease the way for international trade beyond Europe.

The deal also demands that Ukraine change the way it does business. Adopting EU rules on government contracts, competition policy and the copyright for ideas and inventions should improve the economy by making it more investor-friendly and reducing corruption.


Join the discussion

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sparrca June 27 2014 at 5:54 AM

Hopefully, this will pave the path
for a better economy for the country.
Does take it one step further out of
Russia's grasp.

Flag Reply +7 rate up
1 reply
vladswim sparrca June 27 2014 at 9:52 AM

But what about all the people who were killed by Kiev's military? Did we all forget what happened a few months in Odessa?

Flag Reply 0 rate up
4 replies
vladswim June 27 2014 at 5:45 AM

Well it seems that Western Ukrainians have finally signed the deal with the devil. Does not surprise me though, those people will put their won mothers on the street corner just for a little bit of cash.

Flag Reply +4 rate up
5 replies
roeskid6 June 27 2014 at 7:44 AM

I bet Vladamir Putin is not in a good mood today!

Flag Reply +4 rate up
1 reply
vladswim roeskid6 June 27 2014 at 8:50 AM

Putin will have the last laugh

Flag Reply +3 rate up
2 replies
gibby1208 vladswim June 27 2014 at 10:12 AM

It will echo in his coffin.

Flag 0 rate up
Jerry vladswim June 27 2014 at 11:58 AM

Agreed. Not good to poke bear.

Flag 0 rate up
phardynetmail June 27 2014 at 5:38 AM

Ukraine will become more "investor friendly," but no less corrupt.

Flag Reply +3 rate up
3 replies
grfk1136 June 27 2014 at 7:16 AM

Is this diplomacy: kicking Russia and siding with Ukraine? How about the Russian population of Eastern Ukraine? Freedom only for people you like? That's real democracy! Congratulations!

Flag Reply +3 rate up
3 replies
volcraze June 27 2014 at 7:54 AM

I welcome Ukraine.

Flag Reply +3 rate up
1 reply
vladswim volcraze June 27 2014 at 8:52 AM

Nazi great fellow Nazis with love :)

Flag Reply +2 rate up
1 reply
gibby1208 vladswim June 27 2014 at 10:13 AM

Who knows more about acting like a Nazi, than Putin?

Flag 0 rate up
rcsyes June 27 2014 at 7:01 AM

Russia will not like it one bit. I wish Putin was the President of the USA

Flag Reply +2 rate up
5 replies
rjddac June 27 2014 at 9:43 AM

I suppose the EU will supply them with gas this winter.

Flag Reply +1 rate up
williamlevi123 June 27 2014 at 11:54 AM

If their goods and practices meet EU standards. Keyword is "if". In the event standards are not met the EU goods can be sold without competition.

Flag Reply +1 rate up
Jeffrey S. Grant June 27 2014 at 12:46 PM

Germany must be sick about this. Another bankrupt country it will have to bail out in a few years.

Flag Reply +1 rate up
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