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EU to boost trade with Eastern Neighbors

Azerbaijan Materials 4 October 2011 16:14
European Commissioner for Trade Karel De Gucht believes the future Association Agreements between the EU and its Eastern Neighbors will provide one of the most ambitious levels ever of political association between the EU and a foreign country.
EU to boost trade with Eastern Neighbors

Azerbaijan, Baku, Oct. 4 / Trend , G.Dadashova /

European Commissioner for Trade Karel De Gucht believes the future Association Agreements between the EU and its Eastern Neighbors will provide one of the most ambitious levels ever of political association between the EU and a foreign country.

These agreements will affect businesses and citizens in several concrete ways since they cover most aspects of economic life, from consumer protection to company law, from environmental protection to education and training, he said at a civil society trade seminar entitled European Trade Looking East, in Warsaw, ENPI Info Center reported.

"They include a major trade component - a Deep and Comprehensive Free Trade Agreement or DCFTA in the jargon - which is the key driver for economic integration between the EU and the region."

Karel De Gucht highlighted progress made in the EU-Ukraine trade negotiations and also expressed hope the EU would open talks for a deep and comprehensive trade agreement with Moldova, Georgia and Armenia once the conditions are met.

He also touched upon plans to advance EU's trade relations with Russia, highlighting the importance of its WTO entry that would "reinforce the multilateral trading system, strengthen the international competitiveness of the Russian economy and boost the confidence of both traders and investors."

"The work we are doing with Ukraine, Moldova, Georgia, Armenia and Russia will soon bear fruit," he added.

The Eastern Partnership program, initiated by Poland and Sweden in 2008, seeks to bring the six post-Soviet countries of Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine closer to the democratic and economic workings of the EU.

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