YEREVAN, September 18. / ARKA /. The Ukrainian government has approved today a draft association agreement with the European Union. The government's press service said the draft agreement was approved unanimously by the Cabinet September 18, RBC reported.
Ukrainian prime minister Mykola Azarov was quoted as saying that the draft Association Agreement between Ukraine and the European Union will not hinder expansion of Ukraine's cooperation with the Russia-led Customs Union and other CIS countries. Azarov said that the Association Agreement would boost modernization of the Ukrainian economy.
The EU today typically concludes Association Agreements in exchange for commitments to political, economic, trade, or human rights reform in a country. In exchange, the country may be offered tariff -free access to some or all EU markets and financial or technical assistance. Most recently signed AAs also include a Free Trade Agreement (FTA) between the EU and the third country. Association Agreements have to be ratified by all the EU member countries. Ukraine is supposed to initial the Association Agreement in late November at an Eastern Partnership summit in Lithuania. -0-