Ukraine: President Barroso announces unilateral trade measures

The European Commission today adopted a set of trade provisions to support Ukraine, representing an economic benefit to Ukraine of around 500 million euros per year.

The European Commission adopted the first of the measures foreseen in the EUR 11 billion package of support to Ukraine the European Commission presented last week and the EU Heads of State and Government welcomed at their extraordinary meeting on Thursday, 6 March.

President Barroso announced the measure by saying:

"We have agreed a set of unilateral trade provisions that will allow Ukraine to benefit substantially from the advantages offered in the Deep and Comprehensive free Trade Area , DCFTA, and this even before the signature of the Association Agreement with Ukraine. This will represent an economic benefit to Ukraine of around 500 million euros per year."

This first concrete and tangible measure must now be adopted through ordinary legislative procedure by the European Council and Parliament, to which President Barroso said: "I strongly hope that the full legislative process can be concluded in time before the last Plenary of the European Parliament, so that the measure can be in force before June this year."

He continued:

"This will of course not be the only measure of support to Ukraine. The Commission continues to work as a matter of the highest priority on the implementation of the Macro Financial Assistance package 1 billion euros – also part of the support package I presented last week. We will make proposals next week, concretely. They are now being prepared, proposals regarding financial assistance. […]

Let me recall that, as a matter of priority, the European Union has decided to sign the political chapters of the Association Agreement with Ukraine before 25 May, so before the elections. This agreement will seal the political association between the EU and Ukraine before the upcoming elections."

President Barroso finished his statement by saying:

"So once again the European Union stands by Ukraine. We will continue to work very hard to support the democratic choices of the Ukrainian people and to help guarantee Europe’s peace and stability."