EU sees progress in Ukraine's reform process

Ukraine has made a significant progress in implementing political and economic reforms prescribed in the Association Agreement with the European Union (EU), the 28-member block said in a report on Tuesday.

"In 2015 and 2016, Ukraine has undertaken intense and unprecedented reforms across a number of sectors of the economy and society, while its democratic institutions have been further revitalized," said the report, which was jointly prepared by the European Commission and the European External Action Service.

According to the document, the most noteworthy changes for better were made in energy, banking, governance and judiciary sectors, which allowed the Ukrainian authorities to ease the burden on public finances and lower the risks for the economy.

Although the anti-corruption reform is well underway in Ukraine, more efforts from the government are needed to fully implement it, the report said.

Among the key reforms that are advancing slowly in the East European country, the EU listed social and health sectors reforms.

It also noted that the agriculture reform, which envisages lifting the moratorium on farmland sales, and the privatization reform are still pending implementation.

In June 2014, Ukraine and the EU have signed the Association Agreement, which includes a free trade area, designed to deepen bilateral cooperation between the sides.

The agreement, which envisages implementation of a series of reforms in Ukraine, is also seen as an instrument to boost Ukraine's economy and attract investment to the East European country. Endit