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Kiev says EU finalizes free trade deal with Ukraine

Xinhua, November 17, 2015 Adjust font size:

Ukrainian President Petro Poroshenko said Tuesday that the European Union (EU) has completed all procedures needed for the implementation of a free trade deal with Ukraine.

"The EU just informed us that all is ready to launch a free trade zone with Ukraine," Poroshenko said on his Facebook page, noting that he sees "no obstacles" to the functioning of the deal that is scheduled to start on Jan. 1, 2016.

The free trade pact, which removes tariffs on around 90 percent of goods traded between Ukraine and the EU, was signed in June last year in the framework of the comprehensive Association Agreement, a treaty that established a political and economic association between the parties.

In September 2014, the 28-member bloc postponed the implementation of the deal to Dec. 31, 2015, saying it needs time to discuss "whatever problem may arise" with Kiev and Moscow.

Russia has long opposed the EU-Ukraine trade pact, warning that it would allow European products to flood Russia via Ukraine without import duties, as Kiev and Moscow have preferential trade relations.

The next trilateral consultations between Ukraine, Russia and the EU concerning the establishment of the free trade area between Kiev and the 28-member bloc are slated for Dec.1 in Brussels. Endi