The EFTA States and Ukraine promote trade under their Free Trade Agreement

Published 10-10-2012
The Free Trade Agreement between the Member States of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway and Switzerland - and Ukraine entered into force on 1 June 2012. Together, the Parties promoted trade from Ukraine to the EFTA markets at an event on 9 October 2012 in Kyiv.

With the aim of making the EFTA-Ukraine Free Trade Agreement better known and to assist Ukrainian businesses in accessing the EFTA markets, an export promotion seminar was held on 9 October at the premises of the Chamber of Commerce in Kyiv. Around 100 business representatives and Ukrainian officials participated in the seminar.

Focusing on opportunities arising from the new agreement, EFTA experts explained technical aspects of accessing the markets of the individual EFTA States. The topics covered in presentations included customs issues and rules of origin, agriculture, sanitary and phytosanitary requirements as well as technical standards.

Total merchandise trade between the EFTA States and Ukraine amounted to 1.2 billion USD in 2011, with EFTA’s exports to Ukraine at 958 million and imports at 224 million. Annual growth of merchandise trade averaged 19% between 2001 and 2011. Ukraine is EFTA’s third most important export destination in Europe outside the EU. Trade in services and foreign direct investment has also grown in recent years.