Ukraine and the EU have completed the signing of the Association Agreement, particularly its economic part, which foresees the creation of a deep and comprehensive free trade area.
The signing ceremony took place at a meeting of the European Council in Brussels on Friday. The document was signed by Ukrainian President Petro Poroshenko, European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso, and the heads of state and government of the 28 EU member states. The political chapter of the EU-Ukraine Association Agreement was signed on March 21, 2014. The Association Agreement is designed to provide a new, in-depth format of relations between Ukraine and the EU. The document will not only lay a qualitatively new legal framework for future relations between Ukraine and the EU, but also serve as a strategic guide for systemic social and economic reforms in Ukraine and a large-scale adaptation of Ukraine's legislation to EU standards and rules.