EU-Ukraine free-trade accord goes into effect despite Moscow’s opposition | bilaterals.org
NEW TRADE ACCORD: EU-Ukraine free-trade accord goes into effect despite Moscow’s opposition | bilaterals.org : EU-Ukraine free-trade accord goes into effect despite Moscow’s opposition Ukraine’s free-trade deal with the EU went into effect Friday, coinciding with the start of Moscow’s food embargo against Kiev that will force the impoverished former Soviet republic to revisit its economic model. The free-trade accord is part of the broader EU Association Agreement — signed at the end of June 2014 — and stands at the heart of the drastic deterioration of Ukraine’s relations with Russia, furious at seeing its Soviet-era satellite turn to the West. Ukraine, whose market has been traditionally oriented toward Russia, will now have to turn itself toward the European market and abide by its rules. “The agreement will contribute to the modernization and diversification of the Ukrainian economy and will create additional incentives for reform,” the European Commission said in a statement...