UKRAINE, EU START FREE TRADE ZONE TALKS

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Ukraine has started official negotiations with the European Union on the creation of a free trade zone, Ukrainian President Viktor Yushchenko and EU Trade Commissioner Peter Mandelson said after their meeting in Kyiv Monday.

Particularly, Yushchenko said, while signing a three-year agreement with the European Union in 2005, Ukraine aimed at winning a free market economy country status, joining the World Trade Organization, starting work to sign the enhanced agreement with the EU, and forming a free trade zone with the Union. "I am pleased to say that three fourth of the plans came true. We are devoted to the process," the President said.

Yushchenko noted that the EU is Ukraine's trade partner No.1, and the majority of Ukrainian investments come precisely from the EU. The volume of trade turnover between Ukraine and the EU is USD 32 billion, which "makes us think about further development of relations," the President noted.

UKRINFORM