EU, Ukraine inks Association Agreement
The European Union (EU) and Ukraine on Friday initialed a political association agreement in Brussels, in a landmark move towards the country`s integration into the 27-member bloc, according to Xinhua.
According to an EU statement, chief negotiators of the both sides initialed the text of the Association Agreement, which included provisions on the establishment of a Deep and Comprehensive Free Trade Area.
The deal would allow Ukraine access to the union`s free trade area which also includes non-EU nations such as Norway and Switzerland.
At the 15th EU-Ukraine Summit in December 2011, leaders of the European Union and Ukraine announced that they had finalized negotiations on an Association Agreement aimed at establishing political association and economic integration between the European Union and Ukraine.
This Agreement will replace the Partnership and Co-operation Agreement, in force since 1998, as the contractual basis of their relations.