Ukraine started the official negotiations with European Union on creating the free trade zone.

According to an UNIAN correspondent, President of Ukraine Victor Yushchenko and EU Commissioner on trade issues Peter Mandelson said this after the meeting in Kyiv.

Particularly, V. Yushchenko noted that, signing in 2005 the three year agreement with EU, Ukraine had a aim to receive the market economy status, to enter to the World Trade Organization, to start the works on signing the strengthen agreement with EU and to form the free trade zone with EU.

“It is a pleasure for me to say that three-quarters of this became real. We are devoted to this process”, said the President.

V. Yushchenko noted that as for today EU is number one trade partner of Ukraine and most of investment come from European Union. The President reminded that commodity circulation level between Ukraine and European Union makes up 32 billion dollars, this “binds us to think about the development of relations”.

He said that the token event takes place today – the official negotiations on the free trade zone with European Union started.

In his turn, P. Mandelson noted that it is very important day not only for Ukraine but also for European Union. “I think it is good sigh that EU is also devoted to the idea of creating the free trade zone with Ukraine”, he said, having added that the new phase of economic relations with Ukraine starts.