Ukraine and EU holding talks on free trade zone

Representatives of Ukraine and the European Union are in Brussels for the tenth round of talks on setting up a free trade zone.

"The purpose of establishing a free trade zone between Ukraine and the EU is to create a common market that provides for the free movement of goods, services, capital and labor between Ukraine and the EU," said Economy Minister Bohdan Danylyshyn, Tymoshenko's official website reported.

He recalled that creating a free trade zone is part of the strategic goals of bilateral trade-economic cooperation between Ukraine and the EU, which will promote stable and innovative growth of the Ukrainian economy.

According to Bohdan Danylyshyn, during the talks, ten thematic working groups are scheduled to discuss 13 areas of cooperation, including tariffs, trade protection instruments, administrative cooperation on customs issues, services, competitiveness, intellectual property rights, geographic issues, sustainable development and trade, trade aspects of energy cooperation, transparency and dispute settlement.

Prime Minister Yulia Tymoshenko expects Ukraine to sign an Association Agreement and Free Trade Zone Agreement with the EU in 2010.

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