On 8 November 2017, Verkhovna Rada adopted the Law of Ukraine “On Ukraine’s Accession to the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin”.
There are 23 Member States to the Convention including the EU and EFTA countries, Turkey, Albania, Macedonia, Jordan, Montenegro, Serbia, Faroe Islands, Morocco, Algeria, Tunisia, Palestine, Bosnia and Herzegovina, Egypt, Israel, Moldova. Georgia is in the process of accession to the Convention.
Ukraine’s accession to the Convention should facilitate preferential export of domestic goods to prospective foreign markets and attract Ukrainian producers to become part of European and trans-regional value-added chains.
The Convention will allow to use the production potential of Ukraine by expanding the presence of domestic goods in the markets of third countries with which agreements on free trade zones have been concluded, namely the EU, EFTA, Montenegro, Moldova and Macedonia.
There is an agreement to revise the rules of preferential origin of goods when creating free trade zones with Turkey and Israel.
The Convention enters into force for Ukraine on the first day of the second month after Ukraine has deposited an instrument of accession with the depositary of the Convention.