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Russia, Ukraine could extend transition period in some economic cooperation directions

December 26, 2014, 16:21 UTC+3 MOSCOW
At a meeting in Brussels in mid-September, Ukraine, Russia, and the EU agreed to postpone the Deep and Comprehensive Free Trade Agreement by 15 months to December 31, 2015.
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Russia’s EU envoy Vladimir Chizhov

Russia’s EU envoy Vladimir Chizhov

© ITAR-TASS/Grigoriy Sysoev

MOSCOW, December 26. /TASS/. Moscow is not ruling out that transition period in some directions of economic cooperation between Ukraine and Russia could be extended during the talks on implementing Kiev's Association Agreement with the EU, Russia’s EU envoy Vladimir Chizhov said on Friday.

At a meeting in Brussels in mid-September, Ukraine, Russia, and the EU agreed to postpone the Deep and Comprehensive Free Trade Agreement (DCFTA), the economic core of the Association Agreement, by 15 months to December 31, 2015.

The postponement was needed for continuing talks rather than waiting for a storm around political decision to ease off, Chizhov said. “If this process does not succeed in eliminating all the risks for Russia’s economy, the Customs Union countries and Ukraine itself, then we will be still able to understand them,” he said.

“We hope that during the talks the majority of the most serious risks will be eliminated. Various solutions are possible, including extending the transition timeframe,” Chizhov said during a video link-up.

The diplomat said that the EU association deal is harmful for Ukraine’s economy. “During its implementation, the crisis will grow,” he said.

Ukraine and the EU inked the DCFTA in late June, while the political provisions of the association deal were signed on March 21, a month after the coup in Ukraine.

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