The Deep and Comprehensive Free Trade Area (DCFTA) is an important part of the Association Agreement (AA) between Ukraine and the EU, one of EU's the most ambitious bilateral agreements. DCFTA provides for significant liberalization of the bilateral trade, elimination of tariffs and quotas, and harmonization of legislative and regulatory framework.
Key elements of the DCFTA include:
From January 1, 2016, Ukraine and the EU applied the Title IV of the Association Agreement between Ukraine and the EU (DCFTA) provisionally.
On September 1, 2017, the Association Agreement between Ukraine and the EU entered into force in full.
On October 1, 2017, new autonomous trade preferences were granted to Ukraine by the EU for a number of Ukrainian agricultural goods, which will be valid for 3 years. From January 1, 2018, additional trade preferences for wheat, corn and barley were introduced.
DCFTA is supervised by the Association Committee in Trade Configuration and its 4 subcommittees:
The establishment of the DCFTA between Ukraine and the EU will take place gradually over 10 years. The implementation of the DCFTA will result in close economic integration, creation of virtually the same conditions for trade between Ukraine and the EU as intra-Union trade, improved investment climate and transparent rules for doing business in Ukraine, increased choice, security and quality of goods, lower prices for Ukrainian consumers, and improved access for Ukrainian companies not only to the EU market, but also to third country markets.