Economic rationality behind a FTA between the EU and Ukraine

Ukraine became a member of WTO in May 2008. Approximately at the same time it had been granted a status of a country with market economy from both the United States and the European Union. This all resulted in starting negotiations of an enhanced FTA between the EU and Ukraine in September 2008. Negotiations are still far from its end, due to a high number of debatable issues from both sides. Before the agreement is reached it is important to determine whether there are any economic benefits and potential disadvantages of the agreement for both sides, what immediate and long-term consequences of the FTA will be for such participants as governments, traders, producers and consumers; and finally, to observe effects of the EU-Ukraine agreement in the context of relationships with other countries