President Petro Poroshenko has signed the Law of Ukraine about joining the Pan-Euro-Med Convention; his press service reported that on Thursday.
‘The Convention sets identical provisions about the origins of goods, which the countries sell and buy according to the free trade deals; it also foresees that the member countries use each other’s raw products and components. After signing it, Ukraine will enjoy the simplified conditions of trade and comprehensive use of its export potential. The EU-Ukraine economic integration will boost as well,’ the press service said.
The law was approved by the Ukrainian parliament earlier this month.
The government has been considering the option to join the Convention since 2015. According to Deputy Minister of Economic Development and Trade, Trade Representative of Ukraine Natalia Mykolska, from now on, ‘an article produced, for instance, from Ukrainian raw materials in Montenegro, will have a preferential status if being sold in Germany’.