BRUSSELS, March 30, 2012 /PRNewswire via COMTEX/ -- Ukraine got one step closer to the association with the European Union as the Association Agreement between the two parties was initialed in Brussels today. The representatives of Ukrainian and European negotiating delegations have put their initials on the select pages of the political and economic parts of the document.

The Association Agreement creates a framework for cooperation and stipulates establishing closer economic, cultural, and social ties between the signees. Moreover, Brussels officials expect the document to promote the rule of law, democracy, and human rights in Ukraine.

The preamble of the Association Agreement reflects the support of Ukraine's European choice by the EU. The Union recognized that Ukraine belongs to European identity and practices European values.

The 170 page political part of the Association Agreement regulates Ukraine - EU relations on the political level. The European Commissioner for Enlargement and European Neighbourhood Policy Štefan Füle previously stated that the Association Agreement norms would set Ukraine onto the course of reforms in accordance with the European legislation. It would help achieve Ukrainian ambitions for mobility and modernization of the public services.

Additionally to the political part, the Association Agreement features the 180 page of the economic part, as well as 1350 pages of appendixes.

The economic part of the document concerns the introduction of the Deep and Comprehensive Free Trade Area. It covers all trade-related issues, regulating the questions of competition, customs, energy, intellectual property, public procurement, services, and sustainable development. The provisions are set to improve investment climate in Ukraine and help develop business cooperation between the two regions.

After initialing, the full text of the Association Agreement would have to be translated into Ukrainian and languages of EU member states. The next stage of the association process would be to sign the agreement. Following that, 27 parliaments will ratify the document. The concluding part of the association will be the subsequent implementation of the Association Agreement.

After 21 rounds of negotiations over the Association Agreement, Ukraine and the EU finalized the negotiating process on December 19, 2011. Association talks between Ukraine and the EU started on March 5, 2007.

SOURCE Worldwide News Ukraine

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