On January 1, 2016, provisional application of the Deep and Comprehensive Free Trade Area (DCFTA) with the EU started, which lowers duties on the EU goods. Import duty surcharge (at 5-10%) was cancelled. Further we try to analyse impact of these events on international trade.
2015 was a year of many wins and losses for Ukraine. In the first half of the year, Ukraine faced a near-perfect storm of escalating military conflict, falling commodity prices and political instability. As a result already low export revenues went even further down and foreign currency reserves dropped to 5 billion dollars.
On September 12, 2014, trilateral ministerial meeting of the EU, Ukraine and Russia produced quite unexpected decision to postpone the implementation of the EU-Ukraine DCFTA (Title IV of the Association Agreement) till January 1, 2016.
On June 27, 2014, Petro Poroshenko, newly elected President of Ukraine, will sign the economic part of the Association Agreement with the EU, political part of which was signed in March 2014. Same day Georgia and Moldova will also sign the Association Agreements with the EU.
