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Ukrainian FM Offers to Boost Cooperation With EU Within Free Trade Area

© AP Photo / Cliff OwenUkrainian Foreign Minister Pavlo Klimkin speaks to reporters at the State Department in Washington
Ukrainian Foreign Minister Pavlo Klimkin speaks to reporters at the State Department in Washington - Sputnik International
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Ukrainian Foreign Minister Pavlo Klimkin offered to consider a package of joint measures aimed at strengthening the economic effect of the free trade area’s implementation by promoting investments and business contacts between the businesspeople of Ukraine and the European Union, according to the Ukrainian Foreign Ministry.

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KIEV (Sputnik) – Ukrainian Foreign Minister Pavlo Klimkin offered EU Trade Commissioner Cecilia Malmstrom on Monday to discuss steps to intensify cooperation within the free trade area, a statement on the Foreign Ministry’s website said.

An EU-Ukraine arrangement on a free trade zone came into effect on January 1. The two sides have agreed to gradually streamline flows of goods as part of their association deal.

"Klimkin offered to consider a package of joint measures aimed at strengthening the economic effect of the free trade area’s implementation by promoting investments and business contacts between the businesspeople of Ukraine and the European Union, EU assistance in the development of export potential of Ukraine, further liberalization of access to the EU market for certain categories of Ukrainian exports and the Ukraine-EU coordination in the WTO [World Trade Organization]," the ministry said.

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Moscow has announced that should Ukraine benefit from preferential trade rights within the Commonwealth of Independent States (CIS) in parallel to being part of a trade free area with the European Union, the Russian market would be at risk of being flooded with European goods.

Therefore, Russian President Vladimir Putin signed a decree to suspend a free trade deal with Ukraine within the CIS in mid-December, effective from January 1, 2016.

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