The Cabinet of Ministers of Ukraine at its meeting on November 21 adopted a resolution under which the process of preparations for the signing of an Association Agreement between Ukraine and the European Union is suspended, the press office of the Cabinet of Ministers reported on Thursday.
The resolution “On preparation for the signing of the Association Agreement between Ukraine and the European Union” was adopted in the interests of national security of Ukraine, and is aimed to ensure a more detailed study and development of measures that Ukraine has to do to restore the lost volumes and areas of trade and economic relations with the Russian Federation and other CIS countries.
“The Cabinet of Ministers of Ukraine approached the National Security and Defense Council of Ukraine to consider a proposal to suspend the process of preparations for the signing of the Association Agreement between Ukraine and the European Union at a NSDC meeting and take the respective decision,” the document reads.
The suspension is due to the formation of an adequate level of domestic market which would provide parity relations between Ukraine and European Union member states, which is a fundamental principle of international law and the basis of the country’s economic security.
Thus, according to the government’s decision, the Ministry of Foreign Affairs, Ministry of Economic Development and Trade and Ministry of Industrial Policy are tasked to propose the governing bodies of the European Union and the Russian Federation to set up a tripartite commission to work out a set of issues aimed at restoring the lost volumes and areas of trade and economic relations, expanding and promoting international trade, further market liberalization, harmonizing the regulatory framework to improve conditions for doing business within a common economic space.
The Ministry of Foreign Affairs, Ministry of Economic Development and Trade and Ministry of Industrial Policy are tasked to maintain an active dialogue with the Russian Federation and other countries of the Customs Union and the CIS on the revival of trade and economic relations in order to maintain and strengthen the economic potential through joint efforts.
The Ministry of Economic Development and Trade, Ministry of Industrial Policy, Ministry of Agrarian Policy and Food, Ministry of Energy and Coal Industry, Ministry of Infrastructure are tasked to make changes to the state target, sectoral and regional programmes on measures to promote trade, industrial cooperation and technology exchange with the CIS in order to preserve jobs and address other social issues by improving economic stability of the country.