EU-Ukraine free trade deal comes into force

Ukraine’s free-trade deal with the EU, which is a part of the broader EU Association Agreement signed in June 2014, came into effect on Friday.

With a ten-year transition period, the accord covers a range of economic sectors such as agriculture, heavy industry, machine building and light industry.

Under the accord, custom tariffs would be gradually removed on over 90 percent of goods traded between Ukraine and the EU.

The deal was hailed by the Ukrainian government, which upholds a goal of joining in the 28-member bloc EU.

Brussels said the deal would help Ukraine improve its business climate and attract foreign investment.

However, the move has angered Moscow, which responded tit-for-tat by suspending its free trade deal with Ukraine and banning food imports from the same day.

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