Ukraine, EU Ratify Association Agreement

Ukraine, EU Ratify Association AgreementUkraine, EU Ratify Association Agreement

Ukraine and the EU parliaments simultaneously ratified the economic and political parts of the Association Agreement that will strengthen ties between Kiev and Brussels.

The document was approved in Kiev and there was a synchronous signing session in the European Parliament in Strasbourg.

 “From tomorrow I task the government with approving the implementation of the agreement and immediately implementing it into the force of law,” President Petro Poroshenko said at the ratification in Kiev. Poroshenko said he hopes the agreement will help Ukraine reform its economy and fight corruption, and that someday Ukraine hopes to apply for EU membership.

Ukraine “has embarked on the European path and nobody is to shut the door to the EU membership for Ukraine,” the President said, as quoted by ITAR-ITASS.

Since the political tension has intensified between the Russia and Ukraine, both have been cutting back on imports.

Russian President Vladimir Putin has estimated that nixing duty-free trade with Russia and switching over to the European system will cost Ukraine €165 billion over the next 10 years.