Fule sees Ukraine's claims of costs of switching to DCFTA as disproportionate
VILNIUS. Nov 28 (Interfax) - The 160 billion euro that Ukraine claims it would require as costs for introducing a free trade area with the European Union is disproportionate and implausible, European Commissioner for Enlargement and European Neighborhood Policy Stefan Fule said.
This figure, spread over the following ten years, makes about 10% of Ukraine's GDP, which is inconsistent with the record of the countries that have already concluded Deep and Comprehensive Free Trade Agreements (DCFTA) with the EU, Fule said at a business forum in Vilnius on Thursday.
Ukrainian business people should concentrate more on the advantages they would gain from free trade with the European Union, Fule said. He criticized them for talking about costs rather than investment, modernization and improvement of the Ukrainian people's wellbeing.
Fule said the only costs he can see are the costs of inaction and stimulation of economic stagnation.
Ukrainian President Viktor Yanukovych said earlier that, to switch to European standards, Ukraine would require at least 20 billion euro a year, or about 160 billion euro in the period up to 2017.
