UBTA completes analysis of potential outcomes of the Association Agreement update

11
02.2021

The Ukrainian Business and Trade Association (UBTA) is delighted to inform about the completion of the analysis of the potential outcomes of the Association Agreement update. The work has been done under the UBTA leadership and in partnership with the Investment and Trade Facilitation Centre and State Enterprise “Ukrpromzovnishekspertyza”.

The analysis produced recommendations to the Ukrainian authorities with regard to priority areas and objectives of the update of the Agreement’s trade segment – the EU-Ukraine Deep and Comprehensive Free Trade Agreement (DCFTA). The recommendations include both quantitative parameters of the DCFTA, i.e. tariff and TRQs, and qualitative parameters, such as non-tariff regulatory elements of the bilateral trade regime. According to the survey’s conclusions, should the recommendations be taken on board, the expected net economic effect of the Agreement’s update for Ukraine would constitute 587,9 million USD.

As we follow today’s session of the EU-Ukraine Association Council in Brussels to discuss, inter alia, the prospects for the Agreement’s update, the UBTA is proud that the Government, in particular, the Office of Vice-Prime Minister Olga Stefanishyna and the Ministry for Economic Development and Trade of Ukraine may use the analysis and the recommendations while preparing for the negotiations with the EU.

As the UBTA Executive Director Olena Kudliak said, “the UBTA experts are honoured to assist the Ukrainian Government to prepare for complex and responsible negotiations with the EU on the update of the Association Agreement. We are convinced that our work will help develop a winning negotiating position for Ukraine which will be founded on a clear mandate of the Ukrainian business as well as compelling economic data”.