The Association Agreement with Ukraine is profitable for the European Union, as it will open the mutual access to commodity markets, European Commissioner for Development Andris Piebalgs said at the economic conference in Essen (Germany), ForUm correspondent reports.

According to the official, signing is profitable both for Kyiv and Brussels. "The economic benefits are clear: EU has just begun to emerge from the crisis. In this situation, our goods need expansion of sales, and your goods also will benefit from access to our vast market. After all, its capacity is about 10 times higher than that of Ukrainian," the Commissioner said.

He added that the Association Agreement with Kyiv, the signing of which is scheduled for November, is also profitable for Russia, because it can be a step towards creating a large free trade area (FTA) with the participation of the Russian Federation. "The agreement does not prevent Ukraine from developing constructive relations with the Customs Union and supporting free trade with the CIS countries, as well as deepening and expanding them to the extent that it meets the WTO rules and is not contrary to the mutual obligations with Brussels," Piebalgs said.


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