REGIONAL COOPERATION AND ECONOMIC INTEGRATION
REGIONAL COOPERATION AND ECONOMIC INTEGRATION REGIONAL COOPERATION AND ECONOMIC INTEGRATION
REGIONAL TRADE AGREEMENTS AND REGIONAL COOPERATION of Ukraine’s regulatory environment to that existing in the EU. This formula will bring the bilateral relations beyond the existing agreements between the EU and other countries that do not lay claims to membership (for instance, Chili or the Mediterranean countries). Negotiations on creation of the free trade zone between Ukraine and the EU officially started on 18 February 2008. Provisions on the FTZ will become a part of a new enhanced agreement between Ukraine and the EU. They will specify the legal basis for a free movement of goods, services, partly work force between Ukraine and the EU, as well as for a regulatory adjustment aimed at a stage-by-stage integration of Ukraine’s economy into the EU Common Market. The second round of negotiations on creation of the EU-Ukraine free trade zone took place on 23-25 April 2008 in Brussels. In its course the parties agreed a set of areas in which the first projects of articles be drafted as well as outlined the framework vision of the depth of the mutual agreements. Agreements shall include definite provisions on creation of a free trade zone. The stress was made on adaptation and adjustment of Ukrainian legislation to the acquis communautaire (EU legislation) in the corresponding spheres. The third round of talks on creation of free trade zone between Ukraine and the EU took place in Kiev on 7-11 July 2008. The negotiation was a stage-by-stage discussion of the following issues: - - - - - - Trade of goods (instruments of trade protection, tariffs, technical bearers in trade, customs issues ant facilitation of trade); Sustainable development and trade; Intellectual property rights (including geographical names); Trade in services; Government purchases; Competition (state assistance, antitrust legislation). Further to the third round agreements were reached that the EU will consider providing Ukraine with financial assistance to promote reforms connected with implementation of the provisions on the FTZ. Besides, the EU informed Ukraine on the work of the EC on drafting the approaches as to the implementation of norms of regulatory adjustment considering necessary changes on the institutional and/or on legislative level. By offering free trade the EU so allows Ukraine to get access to its markets of goods, services and capital and to get a prospect of economic integration. At the same time one should not forget about economic interests which the EU will protect while holding negotiations on the FTZ. Large producers of agricultural products in France, Spain and Italy are worried about increased competition with Ukrainian goods; therefore they might demand an exclusion of agricultural products from the FTZ. Similar concerns are expresses by producers of nonferrous metals and chemicals in Germany and France. In this context one should remember about possible consequences of Ukraine-EU FTZ for 39
PART I: relations with Russia. The advocates of integration of the countries of the former USSR consider that the enhanced trade and economic cooperation with the EU will prejudice relations with Russia. Nevertheless Russia itself is interested in creation of an FTZ with the EU within the framework of one of the four common “road-maps of cooperation” with the EU. Therefore the issue of impeding creation of an FTZ between Ukraine and the EU should be transferred from the political to economic area. This will be an ordinary competition between the two countries for the EU market with its 450 mln of consumers. Besides, for Russia an FTZ with the EU is a primary instrument of expansion of exports, while Ukraine considers it to be an instrument of domestic reforms. Hence, for Ukraine creation of the FTZ is on the current stage the most optimal way of integration into the European community, which will facilitate the maturity of the national economy up to the standards of the EU. Meanwhile the decision on the comprehensive accession of Ukraine to the EU remains in a purely political sphere and should not prejudice the development of the FTZ. The status of a transit country in terms of the energy products flowing from Russia to Europe and the allknown events of January 2009 also underline the economic component of the relations between Ukraine and the European countries. There is a number of other extremely important directions of further development of the economic component in the relationship between Ukraine and the countries of Europe. CONCLUSION Already now we can say, from the point of the economic theory and practice, that the current crisis has practically an unprecedented character. And now it is quite difficult to predict its scales, term and dynamics. Given such an uncertainty one can expect volatile movements of the commodity prices, foreign exchange rates, etc. All this contributes to a destabilization of economic situation and aggravation of a state of uncertainty. Analysis of the first year of the world financial crisis shows that the letter goes on under conditions of extremely high interdependence of national economies. And this means that the crisis spreads quickly in the international economy, involving practically all countries. Therefore the crisis gets a universal character with all relevant consequences. 40
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- Page 5 and 6: Skopje, 15.10.2009 Dear Colleagues,
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PART I:<br />
relations with Russia. The advocates of integration of the countries of the former USSR<br />
consider that the enhanced trade and economic cooperation with the EU will prejudice<br />
relations with Russia. Nevertheless Russia itself is interested in creation of an FTZ with<br />
the EU within the framework of one of the four common “road-maps of cooperation” with<br />
the EU.<br />
Therefore the issue of impeding creation of an FTZ between Ukraine and the EU should<br />
be transferred from the political to economic area. This will be an ordinary competition<br />
between the two countries for the EU market with its 450 mln of consumers. Besides, for<br />
Russia an FTZ with the EU is a primary instrument of expansion of exports, while Ukraine<br />
considers it to be an instrument of domestic reforms.<br />
Hence, for Ukraine creation of the FTZ is on the current stage the most optimal way of<br />
integration into the European community, which will facilitate the maturity of the national<br />
economy up to the standards of the EU. Meanwhile the decision on the comprehensive<br />
accession of Ukraine to the EU remains in a purely political sphere and should not prejudice<br />
the development of the FTZ.<br />
The status of a transit country in terms of the energy products flowing from Russia to<br />
Europe and the allknown events of January 2009 also underline the economic component<br />
of the relations between Ukraine and the European countries. There is a number of other<br />
extremely important directions of further development of the economic component in the<br />
relationship between Ukraine and the countries of Europe.<br />
CONCLUSION<br />
Already now we can say, from the point of the economic theory and practice, that the<br />
current crisis has practically an unprecedented character. And now it is quite difficult to<br />
predict its scales, term and dynamics. Given such an uncertainty one can expect volatile<br />
movements of the commodity prices, foreign exchange rates, etc. All this contributes to a<br />
destabilization of economic situation and aggravation of a state of uncertainty.<br />
Analysis of the first year of the world financial crisis shows that the letter goes on under<br />
conditions of extremely high interdependence of national economies. And this means that<br />
the crisis spreads quickly in the international economy, involving practically all countries.<br />
Therefore the crisis gets a universal character with all relevant consequences.<br />
40