Ukraine and the European Free Trade Association comprising Norway, Switzerland, Liechtenstein, and Iceland have created a free trade area between them.

Ukrainian News learned this from the press service of the Ukrainian Ministry of Foreign Affairs.

Minister of Foreign Affairs Kostiantyn Hryschenko signed the free trade area agreement for Ukraine in Reykjavik (Iceland) on June 24.
The Foreign Affairs Ministry

The European Free Trade Association comprises Norway, Switzerland, Liechtenstein, and Iceland.

The agreement envisages Ukraine's opportunity to impose export duties on waste metals, sunflower seeds. The agreement also envisages transition periods for abolishing customs duties on certain types of cheese and meat products.

At the same time, the agreement does not stipulate for abolishing duties on cars, agricultural machinery and chemical products.

The agreement declares mutual non-application of antidumping measures.

It is also expected that the European Free Trade Association will grant Ukraine CHF 5 million (about USD 4.5) for institutional development of agriculture.

As Ukrainian News earlier reported, the European Union considers it necessary to step up the work on the free trade area agreement with Ukraine.

Ukraine is also interested in stepping up negotiations on the free trade area with the European Union.

Ukrainian President Viktor Yanukovych expects Ukraine and the European Union to establish a visa-free regime and to create a free trade area between them until March 2011.

Ukrainian News Agency

(18:25, Thursday, June 24, 2010)

Source: un.ua