One of the most discussed issues at the free trade area negotiations with the EU was the use of geographical names. As a result, the Ukrainian side has been provided a ten-year transition period and a compensation package, which is still being debated, Ukrainian Government's Commissioner for European Integration Valeriy Piatnytsky told the Mirror Weekly newspaper, UKRINFORM reports.

"And we have to give proper respect to the Europeans: they launched a project, hired experts (mainly in the field of winemaking, but the experience should be extended later to other areas). A unique catalogue is being prepared - what credit resources should be allocated for, and the technical ones," the official emphasized.

"Potentially, this is the loans of the European Investment Bank, the EBRD. For companies that want to modernize. A loan agreement will be drafted on the modernization of production, transition to new trade names, etc. If, conditionally, you produce champagne today, and tomorrow you will have to switch to sparkling wine, then you only need to formally publish the new label," he said.

The official added that "it would be good, of course, to conduct a study to see how the name change will affect a consumer demand. This may require some resources. In other cases, funds may be needed to improve product quality. That is, each company has to decide to what it is going to direct its efforts, and under what it wants to get those resources. We already have a package arrangement".

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