Ukraine, EEC sign memorandum of cooperation on trade

Ukraine signed the memorandum of cooperation on trade with the Eurasian Economic Commission.
The Memorandum was signed by economic development and trade minister of Ukraine Petro Poroshenko and trade minister of the Eurasian Economic Commission Andrey Slepnev, the press service of the Commission informs.

"Ratification of the FTA agreement has literally allowed us in a very short period of time to implement the arrangements, which facilitate access to the mutual markets of Ukrainian and Russian producers. Today, as a result of the arrangements, we have opened access to the Russian market of pipes, the last week we agreed on stainless steel pipes," Poroshenko said.

The Minister stressed that the plan of measures to liberalize significantly the access to markets was worked out in a maximum short period of time.

"Despite the fact that the agreement on the FTA has a mechanism of litigation, I and Andrey Slepnev agreed that we will make every effort to ensure that these disputes are not brought to the court," Poroshenko added.

In addition, he said, after the ratification, Ukrainian and Russian producers can resort to the appropriate arbitration body, not only on duty and protective measures, but also on technical trade barriers.