27th June 2014

EU signs association agreements with Ukraine, Moldova and Georgia

On 27 June in the margins of the European Council, the EU signed Association Agreements with Georgia and Moldova and completed the signing process with Ukraine, following the signature of the political parts of the treaty in March. The Association Agreements are meant to provide for a deep political and economic relationship between the EU on one side and Moldova, Georgia and Ukraine on the other. Politically, the treaties reaffirm the commitment of the parties to values of democracy, human rights or rule of law. Economically, they contain provisions for a Deep and Comprehensive Free Trade Area with the EU. This will open the EU Single Market to the three countries which should help their economies extensively. The treaties are designed in such way, that the deeper the commitment of the partners to the values underlined in the treaty, the greater the benefits. Following the signing, ratification process will need to be finished by the EU, its Member States and the three countries. As the process can take a long time, the treaties allow provisional application of the essential parts following the signing, after the adoption of the necessary measures on both sides.

For more, click here.

Members of the American Chamber of Commerce in the Czech Republic