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EU-Ukraine Free Trade Zone to Begin Operating January 1 - Poroshenko

© Sputnik / Mikhail Palinchak / Go to the mediabankUkrainian President Petro Poroshenko
Ukrainian President Petro Poroshenko - Sputnik International
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Ukrainian President Petro Poroshenko said that European Union has informed Kiev that all of the formal procedures for a free trade zone have been completed and will go into force January 1.

Ukraine's Foreign Minister Pavlo Klimkin - Sputnik International
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KIEV (Sputnik)  The European Union has informed Kiev that all of the formal procedures for a free trade zone have been completed and will go into force January 1, Ukrainian President Petro Poroshenko said Tuesday.

In June 2014, Ukraine and the European Union reached a landmark association deal that seeks to create a free trade zone between Ukraine and the 28-nation bloc.

"The EU has just announced its readiness to a free trade zone with Ukraine beginning January 1, 2016. We just received a note from the European Council on the completion of all of the procedures to launch a free trade zone. Now there are no obstacles, we’ll start from the new year," Poroshenko said on his Facebook account.

Russia, as Ukraine's biggest trading partner, has repeatedly insisted on being included in the negotiations over Ukraine's EU association, fearing the process could result in an uncontrolled flow of European goods into the Russian market.

Moscow’s concerns over the implementation of the agreement caused the postponement of the EU-Ukraine Deep and Comprehensive Free Trade Area (DCFTA) implementation until January 1, 2016.

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