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Home News Ukraine government in Brussels May 13 to meet Commission

Ukraine government in Brussels May 13 to meet Commission

Published on 05/05/2014

Interim Ukraine premier Arseniy Yatsenyuk and his government will hold talks in Brussels on May 13 with the European Commission to examine further support from the 28-nation bloc, the EU executive said Monday.

The Commission “is determined to help Ukraine, and to make sure that Ukraine has all the support it needs, in the short- and long- term, to undertake the political and economic reforms that are necessary for the country,” a statement said.

The meeting between the Kiev government and the 28 members of the Commission will be followed by a joint press conference by Commission president Jose Manuel Barroso and Yatsenyuk.

The EU’s foreign ministers last month approved a one-billion-euro ($1.4-billion) package to help overcome the crisis-torn country’s deep financial problems.

In a further move to revive the flagging Ukrainian economy, they also signed off on a plan to lower customs duties on Ukrainian goods that could save the country almost 500 million euros a year.

The medium-term loan of almost one billion euros — part of a total 11 billion euros in assistance — aims to help cover Kiev’s balance-of-payments needs and comes in addition to 610 million euros of aid that has been approved but not yet disbursed.

The cut in trade tariffs for Ukrainian imports until November 1 is a one-sided measure that will not affect duties on exports to Ukraine from the EU.

It is a first stage in a free-trade pact due to be signed by Brussels with Kiev later this year which was linked to the EU-Ukraine Association Agreement that former president Viktor Yanukovych refused to sign in November, triggering the protests that led to the pro-Russian leader’s ouster.