Provisional application of the free trade area provisions between Ukraine and the EU kicks off on January 1, 2016. Remember that Ukrainian manufacturers were eligible to export their products to the EU market under the DCFTA within the EU autonomous trade preferences since April 2014. This means that the EU has unilaterally opened its market for Ukraine already last year. Since January, however, Ukraine starts opening its market too.Earlier opinions were expressed that Ukrainian businesses would lose because of competition with European goods and manufacturers. On the other hand, opening of Ukrainian markets under the DCFTA could bring benefit to the consumers as competition and supply increase lead to lowering prices. Read more
With the signing and provisional application of the Association Agreement, Ukraine’s path to European integration will be made up of supposedly small steps that will bring the country closer to the EU in various spheres. In January, the Verkhovna Rada is expected to adopt a new law on audit activity in line with EU norms. Currently, Ukraine’s audit sphere functions according to norms established back in the early 1990s.